Abel Hall LLC Has $346,000 Stake in Ameriprise Financial, Inc. $AMP

Abel Hall LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 17.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 648 shares of the financial services provider’s stock after purchasing an additional 98 shares during the period. Abel Hall LLC’s holdings in Ameriprise Financial were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMP. Wealth Preservation Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth about $29,000. TD Capital Management LLC grew its holdings in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 51 shares during the period. WPG Advisers LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth about $36,000. Finally, TCTC Holdings LLC grew its holdings in Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 49 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $497.05 on Wednesday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The stock has a market cap of $46.86 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.12 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s 50-day simple moving average is $501.97 and its 200 day simple moving average is $502.15.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the firm earned $8.72 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 19.91%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AMP shares. Raymond James Financial increased their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Piper Sandler increased their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Morgan Stanley decreased their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada increased their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $535.14.

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.