2,959 Shares in Ameriprise Financial, Inc. $AMP Acquired by First Horizon Corp

First Horizon Corp acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, HoldingsChannel.com reports. The firm acquired 2,959 shares of the financial services provider’s stock, valued at approximately $1,454,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. Brighton Jones LLC raised its stake in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares in the last quarter. Empowered Funds LLC lifted its holdings in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 634 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Ameriprise Financial by 21.8% in the first quarter. Geneos Wealth Management Inc. now owns 424 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 76 shares during the period. Strs Ohio bought a new position in Ameriprise Financial in the 1st quarter valued at about $6,439,000. Finally, Modern Wealth Management LLC increased its stake in Ameriprise Financial by 12.0% during the 1st quarter. Modern Wealth Management LLC now owns 950 shares of the financial services provider’s stock valued at $460,000 after buying an additional 102 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Up 0.5%

Shares of NYSE:AMP opened at $510.37 on Tuesday. The firm has a 50 day simple moving average of $476.98 and a 200 day simple moving average of $494.79. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $47.42 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping the consensus estimate of $9.76 by $0.16. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.Ameriprise Financial’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $9.02 earnings per share. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 10th. Ameriprise Financial’s dividend payout ratio is 17.55%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Morgan Stanley boosted their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. Argus dropped their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $528.75.

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.