Accredited Wealth Management LLC Acquires 3,244 Shares of Ameriprise Financial, Inc. $AMP

Accredited Wealth Management LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 54,066.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,250 shares of the financial services provider’s stock after acquiring an additional 3,244 shares during the period. Ameriprise Financial makes up 1.3% of Accredited Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Accredited Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,597,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Ameriprise Financial during the 2nd quarter worth approximately $693,736,000. JPMorgan Chase & Co. raised its position in Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after buying an additional 446,080 shares during the last quarter. Federated Hermes Inc. lifted its stake in Ameriprise Financial by 29.3% during the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after acquiring an additional 219,080 shares in the last quarter. Close Asset Management Ltd lifted its stake in Ameriprise Financial by 78.2% during the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock valued at $227,652,000 after acquiring an additional 203,252 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Ameriprise Financial by 29.8% during the 2nd quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock worth $262,075,000 after acquiring an additional 112,784 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,658 shares of company stock worth $8,998,675. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several analyst reports. Argus lowered their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Stock Down 3.7%

AMP stock opened at $468.96 on Friday. The stock has a fifty day moving average of $498.99 and a 200-day moving average of $488.61. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The company has a market capitalization of $42.76 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.13 and a beta of 1.26. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.54 earnings per share. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

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.