Ameriprise Financial, Inc. $AMP Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,408 shares of the financial services provider’s stock after buying an additional 11,525 shares during the period. Cerity Partners LLC owned about 0.08% of Ameriprise Financial worth $36,976,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SouthState Bank Corp boosted its holdings in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in Ameriprise Financial in the 4th quarter worth about $30,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $32,000. Ares Financial Consulting LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $32,000. Finally, WFA of San Diego LLC acquired a new position in shares of Ameriprise Financial during the 2nd quarter worth approximately $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of several recent research reports. BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Morgan Stanley boosted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. Finally, Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Trading Up 0.5%

Shares of Ameriprise Financial stock opened at $451.50 on Thursday. The stock has a market cap of $40.59 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.95 and a beta of 1.16. The stock’s 50 day simple moving average is $456.46 and its 200-day simple moving average is $472.82. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66.

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

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $1.70 dividend. 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 yield of 1.5%. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s payout ratio is currently 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.