Signaturefd LLC Increases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Signaturefd LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,270 shares of the financial services provider’s stock after purchasing an additional 32 shares during the period. Signaturefd LLC’s holdings in Ameriprise Financial were worth $862,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Lindbrook Capital LLC grew its stake in Ameriprise Financial by 2.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,176 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 60 shares in the last quarter. abrdn plc boosted its stake in Ameriprise Financial by 15.0% during the fourth quarter. abrdn plc now owns 91,016 shares of the financial services provider’s stock valued at $34,571,000 after buying an additional 11,845 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Ameriprise Financial during the fourth quarter worth about $34,000. Greenleaf Trust raised its holdings in shares of Ameriprise Financial by 2.1% in the 4th quarter. Greenleaf Trust now owns 4,858 shares of the financial services provider’s stock valued at $1,845,000 after acquiring an additional 98 shares in the last quarter. Finally, Zhang Financial LLC grew its holdings in shares of Ameriprise Financial by 13.3% during the fourth quarter. Zhang Financial LLC now owns 1,724 shares of the financial services provider’s stock worth $655,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now 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 at this link. In related news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial 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 transaction, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at $559,159.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,161 shares of company stock worth $35,560,647. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Up 1.0 %

Shares of Ameriprise Financial stock opened at $421.33 on Tuesday. The company’s fifty day simple moving average is $417.37 and its two-hundred day simple moving average is $379.18. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The company has a market cap of $42.21 billion, a P/E ratio of 17.77, a PEG ratio of 0.69 and a beta of 1.36. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.14 by $0.25. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the company posted $7.25 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.41%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 22.78%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMP. Raymond James initiated coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating for the company. UBS Group increased their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Piper Sandler upped their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price target on shares of Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $441.00.

Ameriprise Financial Profile

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.