1,295 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by PFG Investments LLC

PFG Investments LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,295 shares of the financial services provider’s stock, valued at approximately $568,000.

Other large investors have also added to or reduced their stakes in the company. Venture Visionary Partners LLC grew its stake in Ameriprise Financial by 2.9% during the fourth quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock worth $5,650,000 after purchasing an additional 416 shares during the period. 17 Capital Partners LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $2,078,000. Cerity Partners LLC grew its stake in Ameriprise Financial by 280.6% in the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after acquiring an additional 22,487 shares during the period. Acadian Asset Management LLC acquired a new stake in Ameriprise Financial in the third quarter valued at approximately $1,150,000. Finally, Harbor Investment Advisory LLC grew its stake in Ameriprise Financial by 75.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 335 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the transaction, the director now directly owns 12,500 shares in the company, valued at $4,832,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,326 shares of company stock worth $29,775,593. 0.96% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded up $6.34 during mid-day trading on Monday, reaching $416.35. 395,381 shares of the company’s stock were exchanged, compared to its average volume of 502,805. The business’s fifty day simple moving average is $419.02 and its 200 day simple moving average is $382.14. The firm has a market capitalization of $41.71 billion, a PE ratio of 14.17, a P/E/G ratio of 0.70 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. Ameriprise Financial’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $7.25 earnings per share. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.65 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a $1.48 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.42%. Ameriprise Financial’s payout ratio is 18.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group raised their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group raised their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Raymond James assumed coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Piper Sandler raised their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $449.57.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.