Bellwether Advisors LLC Has $343,000 Holdings in Ameriprise Financial, Inc. $AMP

Bellwether Advisors LLC cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 86.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 699 shares of the financial services provider’s stock after selling 4,464 shares during the period. Bellwether Advisors LLC’s holdings in Ameriprise Financial were worth $343,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AMP. Brighton Jones LLC lifted its position in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares during the last quarter. Empowered Funds LLC lifted its position in Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after acquiring an additional 634 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 72 shares during the last quarter. Schnieders Capital Management LLC. acquired a new stake in Ameriprise Financial during the second quarter worth approximately $313,000. Finally, Gabelli Funds LLC lifted its position in Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after acquiring an additional 2,922 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on AMP shares. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets lifted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $543.22.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $455.91 on Wednesday. The firm’s fifty day moving average price is $454.90 and its two-hundred day moving average price is $473.40. The stock has a market cap of $40.99 billion, a PE ratio of 11.34, a PEG ratio of 1.07 and a beta of 1.20. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.50 earnings per share. On average, equities analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, May 4th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is presently 16.91%.

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.