Opal Capital LLC Purchases 1,744 Shares of Ameriprise Financial, Inc. $AMP

Opal Capital LLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 451.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,130 shares of the financial services provider’s stock after purchasing an additional 1,744 shares during the period. Opal Capital LLC’s holdings in Ameriprise Financial were worth $947,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. SouthState Bank Corp increased its position in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at about $28,000. Ares Financial Consulting LLC bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $32,000. Prosperity Bancshares Inc bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $33,000. Finally, WFA of San Diego LLC purchased a new stake in Ameriprise Financial in the second quarter worth approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AMP. Morgan Stanley increased their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. BMO Capital Markets upped their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.33.

Ameriprise Financial Price Performance

AMP opened at $546.80 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.66. The stock’s 50 day simple moving average is $479.17 and its 200 day simple moving average is $475.33. The firm has a market cap of $49.16 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.92 and a beta of 1.16. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $553.46.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, beating the consensus estimate of $10.81 by $0.26. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.11 earnings per share. As a group, analysts predict that Ameriprise Financial, Inc. will post 45.84 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 3rd will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is currently 16.40%.

About Ameriprise Financial

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.