Ameriprise Financial, Inc. $AMP Shares Bought by Burney Co.

Burney Co. grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 20.6% in the first quarter, Holdings Channel reports. The institutional investor owned 11,074 shares of the financial services provider’s stock after acquiring an additional 1,888 shares during the quarter. Burney Co.’s holdings in Ameriprise Financial were worth $4,921,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SouthState Bank Corp increased 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 acquiring an additional 22 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at $30,000. Ares Financial Consulting LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at $32,000. Prosperity Bancshares Inc acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $33,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Ameriprise Financial during the second quarter worth about $36,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $507.26 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The firm has a market capitalization of $45.60 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.02 and a beta of 1.16. The company has a fifty day simple moving average of $462.71 and a 200-day simple moving average of $472.51. 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 (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $9.50 earnings per share. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 43.01 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. Shareholders of record on Monday, May 4th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is currently 16.91%.

Analysts Set New Price Targets

AMP has been the subject of several research analyst reports. 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 lifted their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. BMO Capital Markets increased their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Piper Sandler raised their target price on Ameriprise Financial from $460.00 to $471.00 and gave the company 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 assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $543.22.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were 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 of the company’s stock, valued at $2,934,729. This trade represents a 16.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $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. Company insiders own 0.60% of the company’s stock.

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.