MidFirst Bank Makes New Investment in Ameriprise Financial, Inc. $AMP

MidFirst Bank acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,271 shares of the financial services provider’s stock, valued at approximately $2,094,000.

Several other hedge funds have also recently made changes to their positions in the company. SouthState Bank Corp lifted its position in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 22 shares during the period. Holos Integrated Wealth LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at about $30,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the third quarter valued at about $32,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth about $32,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of Ameriprise Financial in the fourth quarter worth about $33,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’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 completion of the sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 directly owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. BMO Capital Markets lifted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Morgan Stanley increased their target price on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $467.97 on Friday. The firm has a 50-day simple moving average of $459.83 and a 200-day simple moving average of $473.31. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $42.07 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.00 and a beta of 1.16. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18.

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

Ameriprise Financial Increases Dividend

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

Ameriprise Financial 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.