Larson Financial Group LLC Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

Larson Financial Group LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 41.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 632 shares of the financial services provider’s stock after purchasing an additional 184 shares during the quarter. Larson Financial Group LLC’s holdings in Ameriprise Financial were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Ameriprise Financial by 2.9% during the third quarter. CWM LLC now owns 2,433 shares of the financial services provider’s stock worth $802,000 after buying an additional 69 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in Ameriprise Financial in the 3rd quarter worth approximately $233,000. Washington Trust Advisors Inc. grew its stake in Ameriprise Financial by 35.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 608 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 160 shares during the period. Caprock Group LLC grew its stake in Ameriprise Financial by 13.4% in the 3rd quarter. Caprock Group LLC now owns 1,910 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 226 shares during the period. Finally, Oak Thistle LLC purchased a new stake in shares of Ameriprise Financial in the third quarter valued at $717,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. Piper Sandler lifted their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, UBS Group boosted their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $449.57.

Ameriprise Financial Stock Up 1.3 %

Shares of NYSE AMP opened at $412.86 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67. The company has a market cap of $41.36 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.67 and a beta of 1.36. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock has a fifty day moving average price of $418.15 and a 200 day moving average price of $379.98.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $7.25 earnings per share. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. The ex-dividend date is Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.43%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 18.38%.

Insider Activity

In other news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock worth $35,560,647 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

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.