Corient Private Wealth LLC Purchases 1,525 Shares of Ameriprise Financial, Inc. $AMP

Corient Private Wealth LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,420 shares of the financial services provider’s stock after acquiring an additional 1,525 shares during the quarter. Corient Private Wealth LLC’s holdings in Ameriprise Financial were worth $13,447,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. SouthState Bank Corp grew its position 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 purchasing an additional 22 shares in the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $30,000. Ares Financial Consulting LLC bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $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 bought a new stake in Ameriprise Financial during the second quarter worth about $36,000. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMP. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Morgan Stanley upped their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. BMO Capital Markets increased their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Finally, Piper Sandler upped their price target 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 analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $543.22.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated 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. The trade was a 16.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’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 approximately $2,883,789.56. This trade represents a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $467.32 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock’s 50 day moving average price is $460.92 and its two-hundred day moving average price is $473.48. The firm has a market capitalization of $42.01 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 0.99 and a beta of 1.16. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the firm earned $9.50 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Ameriprise Financial, Inc. will post 42.69 earnings per share for the current year.

Ameriprise Financial Increases Dividend

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

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.