Cove Private Wealth LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,646 shares of the financial services provider’s stock, valued at approximately $2,145,000. Ameriprise Financial makes up about 2.0% of Cove Private Wealth LLC’s investment portfolio, making the stock its 12th largest holding.
Several other large investors have also recently added to or reduced their stakes in AMP. Turtle Creek Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $34,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $34,000. Fortitude Family Office LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $39,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $51,000. Finally, JFS Wealth Advisors LLC grew its stake in shares of Ameriprise Financial by 52.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 140 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 48 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders have sold 3,376 shares of company stock valued at $1,476,274 over the last quarter. Insiders own 0.96% of the company’s stock.
Ameriprise Financial Stock Up 0.5 %
NYSE:AMP traded up $1.97 during mid-day trading on Monday, reaching $425.83. The stock had a trading volume of 87,567 shares, compared to its average volume of 472,215. The company has a market capitalization of $42.29 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $442.79. The stock’s 50 day simple moving average is $425.26 and its two-hundred day simple moving average is $405.40. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.
Ameriprise Financial (NYSE:AMP – Get Free Report) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the company posted $7.25 earnings per share. Ameriprise Financial’s revenue was up 10.8% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 34.95 EPS for the current year.
Ameriprise Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a $1.48 dividend. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on AMP shares. Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group raised their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Evercore ISI raised their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $450.88.
Check Out Our Latest Stock Analysis on Ameriprise Financial
Ameriprise Financial Company Profile
(Free Report)
Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.
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