Atlantic Union Bankshares Corp Purchases 460 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Atlantic Union Bankshares Corp grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,862 shares of the financial services provider’s stock after acquiring an additional 460 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Ameriprise Financial were worth $3,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMP. Sound Income Strategies LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $34,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $34,000. Fortitude Family Office LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $39,000. Finally, American National Bank boosted its holdings in shares of Ameriprise Financial by 116.3% in the 1st quarter. American National Bank now owns 106 shares of the financial services provider’s stock valued at $46,000 after buying an additional 57 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Raymond James began coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. Morgan Stanley increased their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods increased their price target 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. Finally, Royal Bank of Canada increased their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $456.22.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 0.6 %

AMP traded down $2.63 during trading on Friday, hitting $427.71. The company’s stock had a trading volume of 1,293,170 shares, compared to its average volume of 481,363. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $446.32. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock’s fifty day moving average price is $428.66 and its 200-day moving average price is $410.32. The firm has a market capitalization of $42.48 billion, a P/E ratio of 14.56, a PEG ratio of 0.74 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. Ameriprise Financial’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.25 earnings per share. Analysts anticipate that Ameriprise Financial, Inc. will post 34.95 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a dividend of $1.48 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.38%. Ameriprise Financial’s dividend payout ratio is 20.15%.

About Ameriprise Financial

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.