Caerus Investment Advisors LLC Acquires Shares of 1,474 Ameriprise Financial, Inc. $AMP

Caerus Investment Advisors LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,474 shares of the financial services provider’s stock, valued at approximately $723,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SouthState Bank Corp grew its position in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares during the period. Holos Integrated Wealth LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the 3rd quarter valued at approximately $32,000. Ares Financial Consulting LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $32,000. Finally, WFA of San Diego LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AMP shares. BMO Capital Markets increased their target price 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. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Morgan Stanley increased their target price 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. Piper Sandler increased their target price 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. Finally, Weiss Ratings downgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $543.22.

Insider Transactions at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was 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 directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $450.00 on Friday. The company’s 50 day simple moving average is $456.59 and its two-hundred day simple moving average is $472.83. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $40.45 billion, a PE ratio of 11.19, a P/E/G ratio of 0.95 and a beta of 1.16. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $9.50 earnings per share. Analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Ameriprise Financial 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.