1,050 Shares in Ameriprise Financial, Inc. $AMP Acquired by Smith Group Asset Management LLC

Smith Group Asset Management LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,050 shares of the financial services provider’s stock, valued at approximately $467,000.

Several other institutional investors have also recently added to or reduced their stakes in AMP. Opal Capital LLC increased its stake in shares of Ameriprise Financial by 451.8% in the 1st quarter. Opal Capital LLC now owns 2,130 shares of the financial services provider’s stock valued at $947,000 after acquiring an additional 1,744 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Ameriprise Financial by 26.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,308 shares of the financial services provider’s stock worth $1,026,000 after acquiring an additional 477 shares in the last quarter. Empowered Funds LLC boosted its stake in Ameriprise Financial by 78.1% during the first quarter. Empowered Funds LLC now owns 37,735 shares of the financial services provider’s stock worth $16,769,000 after acquiring an additional 16,548 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Ameriprise Financial by 22.9% in the first quarter. Quantinno Capital Management LP now owns 77,529 shares of the financial services provider’s stock worth $34,454,000 after purchasing an additional 14,431 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Ameriprise Financial by 38.4% in the first quarter. Lazard Asset Management LLC now owns 325,116 shares of the financial services provider’s stock valued at $144,482,000 after purchasing an additional 90,124 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was 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. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value 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. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 23,559 shares of company stock valued at $12,182,382. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

AMP opened at $541.09 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $553.46. The company has a market cap of $48.64 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.74 and a beta of 1.16. The company’s fifty day moving average price is $480.85 and its two-hundred day moving average price is $475.59. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 0.99.

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

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be paid a dividend of $1.70 per share. The ex-dividend date is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s payout ratio is 16.40%.

Ameriprise Financial News Summary

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Zacks Research upgraded Ameriprise Financial from “Hold” to “Strong Buy,” citing improving earnings prospects. The upgrade could support investor demand for the shares. Zacks rating upgrade article
• Positive Sentiment: AMP was included on Zacks’ list of top-value stocks with a Rank #1 “Strong Buy” rating, reinforcing the view that its valuation and earnings outlook remain attractive. Zacks best value stocks article
• Positive Sentiment: A second Zacks analysis highlighted Ameriprise as a potential value investment, while a quarterly review pointed to asset growth, adviser productivity and strategic platform expansion as key business drivers. Ameriprise value stock analysis
• Neutral Sentiment: Ameriprise was recognized by J.D. Power for outstanding customer service for the fifth consecutive year. The award supports brand strength and client retention but is unlikely to materially change near-term financial forecasts. J.D. Power customer service recognition
• Negative Sentiment: Insider William Jerryl Williams sold 16,104 AMP shares across July 27–28 for approximately $8.67 million, reducing his holdings in two transactions by 42.04% and 54.77%, respectively. The sizable sales may pressure sentiment, particularly with the stock trading near its 52-week high. SEC insider transaction filing

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler upped their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. BMO Capital Markets raised their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Finally, Jefferies Financial Group increased their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Moderate Buy” and an average price target of $555.33.

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.