Integrated Wealth Concepts LLC Boosts Position in Ameriprise Financial, Inc. $AMP

Integrated Wealth Concepts LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,867 shares of the financial services provider’s stock after acquiring an additional 76 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Ameriprise Financial were worth $1,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Ameriprise Financial by 1.9% during the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $2,114,000 after acquiring an additional 83 shares in the last quarter. Spire Wealth Management lifted its stake in shares of Ameriprise Financial by 91.6% during the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock worth $692,000 after buying an additional 683 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Ameriprise Financial by 488.5% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider’s stock worth $470,000 after buying an additional 806 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ameriprise Financial by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider’s stock worth $12,055,000 after buying an additional 1,433 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in Ameriprise Financial by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider’s stock worth $2,864,000 after buying an additional 420 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMP. Morgan Stanley lowered shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $462.00 to $530.00 in a research report on Tuesday, July 15th. Raymond James Financial boosted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Finally, Piper Sandler lifted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $534.71.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 0.3%

Shares of NYSE:AMP opened at $491.77 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $46.36 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27. The firm’s 50-day moving average is $517.49 and its two-hundred day moving average is $503.42. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.72 earnings per share. Analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were paid a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 19.91%.

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.