Entropy Technologies LP Has $2.61 Million Position in Ameriprise Financial, Inc. $AMP

Entropy Technologies LP reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 64.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,316 shares of the financial services provider’s stock after selling 9,811 shares during the quarter. Entropy Technologies LP’s holdings in Ameriprise Financial were worth $2,607,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SouthState Bank Corp grew its position in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $30,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at about $32,000. Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $32,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Ameriprise Financial in the second quarter valued at about $36,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AMP shares. Weiss Ratings downgraded Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Piper Sandler raised their price target on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. 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 note on Friday, April 24th. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating on the stock. Finally, Morgan Stanley boosted their price target on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Stock Down 0.1%

Shares of AMP opened at $458.54 on Monday. The stock has a market cap of $41.22 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 0.97 and a beta of 1.16. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The company has a 50-day moving average price of $457.02 and a two-hundred day moving average price of $472.92.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion during 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 for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $9.50 earnings per share. Equities analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared 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. This is a positive change 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 dividend payout ratio is 16.91%.

Insider Transactions at Ameriprise Financial

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

About Ameriprise Financial

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.