OneAscent Wealth Management LLC Increases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

OneAscent Wealth Management LLC raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 34.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 677 shares of the financial services provider’s stock after acquiring an additional 172 shares during the period. OneAscent Wealth Management LLC’s holdings in Ameriprise Financial were worth $360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Howard Capital Management Group LLC increased its position in Ameriprise Financial by 11.1% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 178 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Ameriprise Financial by 1.1% in the third quarter. D.A. Davidson & CO. now owns 4,491 shares of the financial services provider’s stock valued at $2,110,000 after buying an additional 47 shares in the last quarter. Townsquare Capital LLC grew its holdings in Ameriprise Financial by 8.0% during the third quarter. Townsquare Capital LLC now owns 7,047 shares of the financial services provider’s stock worth $3,311,000 after acquiring an additional 520 shares during the period. Cynosure Group LLC purchased a new position in Ameriprise Financial in the third quarter worth $206,000. Finally, CreativeOne Wealth LLC lifted its holdings in Ameriprise Financial by 71.5% in the third quarter. CreativeOne Wealth LLC now owns 926 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 386 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $514.89.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $481.64 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market cap of $46.29 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The business has a fifty day moving average of $524.55 and a 200-day moving average of $522.43.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.23%. Ameriprise Financial’s payout ratio is currently 17.91%.

Ameriprise Financial Company 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.