8,690 Shares in Ameriprise Financial, Inc. $AMP Bought by Atlas Wealth LLC

Atlas Wealth LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the first quarter, HoldingsChannel reports. The institutional investor acquired 8,690 shares of the financial services provider’s stock, valued at approximately $3,862,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Ameriprise Financial by 0.4% during the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after purchasing an additional 18,879 shares during the period. Norges Bank purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth $742,438,000. Boston Partners lifted its stake in shares of Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after purchasing an additional 13,172 shares during the last quarter. AQR Capital Management LLC lifted its position in Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after acquiring an additional 496,319 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Ameriprise Financial by 0.7% during the fourth quarter. Federated Hermes Inc. now owns 973,097 shares of the financial services provider’s stock worth $477,148,000 after acquiring an additional 6,934 shares during the period. Hedge funds and other 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 firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at $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 is available 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 stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by company insiders.

Ameriprise Financial Trading Down 1.0%

Shares of NYSE:AMP opened at $527.91 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The company has a market capitalization of $47.46 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.95 and a beta of 1.16. The business’s 50 day simple moving average is $470.45 and its 200 day simple moving average is $473.87.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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. 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%.Ameriprise Financial’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company earned $9.50 EPS. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 43.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a dividend of $1.70 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMP. Piper Sandler upped their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating on the stock. Weiss Ratings cut shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. BMO Capital Markets raised their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Morgan Stanley upped their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $553.67.

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.