Atlas Wealth LLC Purchases New Stake in Ameriprise Financial, Inc. $AMP

Atlas Wealth LLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,690 shares of the financial services provider’s stock, valued at approximately $3,862,000.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ameriprise Financial by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after purchasing an additional 10,782 shares in the last quarter. Pensionfund Sabic bought a new position in shares of Ameriprise Financial in the 4th quarter worth $1,471,000. KBC Group NV increased its position in Ameriprise Financial by 12.2% during the 4th quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock valued at $73,848,000 after buying an additional 16,433 shares in the last quarter. National Pension Service lifted its holdings in Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after acquiring an additional 12,563 shares during the period. Finally, LSV Asset Management grew its stake in Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after acquiring an additional 3,548 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP opened at $527.91 on Friday. Ameriprise Financial, Inc. has a one year low of $422.37 and a one 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. The company has a market cap of $47.46 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.95 and a beta of 1.16. The firm’s fifty day moving average price is $470.45 and its two-hundred day moving average price is $473.87.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $9.50 earnings per share. Equities analysts expect that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Insider Activity

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on 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 transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was 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 through the SEC website. 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 completion of the transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent research reports. Weiss Ratings downgraded Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Jefferies Financial Group raised their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Piper Sandler boosted their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $553.67.

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.