Ameriprise Financial, Inc. $AMP Shares Acquired by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,746 shares of the financial services provider’s stock after purchasing an additional 4,250 shares during the period. Ameriprise Financial comprises approximately 2.4% of Greatmark Investment Partners Inc.’s portfolio, making the stock its 15th largest position. Greatmark Investment Partners Inc.’s holdings in Ameriprise Financial were worth $20,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SouthState Bank Corp increased its holdings in 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 buying an additional 22 shares during the last quarter. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth about $30,000. Ares Financial Consulting LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $32,000. Prosperity Bancshares Inc acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $33,000. Finally, Evolution Wealth Management Inc. acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating on the stock. Morgan Stanley upped their price target on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. BMO Capital Markets raised their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Piper Sandler boosted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Stock Up 3.7%

Shares of NYSE AMP opened at $507.26 on Tuesday. The stock has a market cap of $45.60 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.02 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 52-week low of $422.37 and a 52-week high of $550.18. The business has a 50-day moving average price of $462.71 and a 200 day moving average price of $472.51.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the company posted $9.50 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial, Inc. will post 43.01 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s payout ratio is 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.