Marble Wealth LLC Takes Position in Ameriprise Financial, Inc. $AMP

Marble Wealth LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,707 shares of the financial services provider’s stock, valued at approximately $837,000.

Other large investors have also recently made changes to their positions in the company. Holos Integrated Wealth LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $30,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the third quarter valued at $32,000. Ares Financial Consulting LLC acquired a new position in Ameriprise Financial during the fourth quarter valued at $32,000. WFA of San Diego LLC acquired a new position in Ameriprise Financial during the second quarter valued at $36,000. Finally, Activest Wealth Management lifted its position in Ameriprise Financial by 777.8% during the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 70 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Trading Down 0.8%

Shares of Ameriprise Financial stock opened at $442.04 on Thursday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a 50-day simple moving average of $455.69 and a two-hundred day simple moving average of $472.62. The company has a market cap of $39.74 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $9.50 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a dividend of $1.70 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is currently 16.91%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, BMO Capital Markets boosted their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.