811 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 811 shares of the financial services provider’s stock, valued at approximately $314,000.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth about $25,000. Carmel Capital Partners LLC acquired a new position in Ameriprise Financial in the third quarter valued at about $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at about $34,000. Wetzel Investment Advisors Inc. bought a new stake in Ameriprise Financial during the fourth quarter worth about $34,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $39,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $412.86 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 12 month low of $279.85 and a 12 month high of $440.67. The firm has a market cap of $41.36 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.67 and a beta of 1.36. The stock has a 50-day moving average price of $418.15 and a 200 day moving average price of $379.98.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the company earned $7.25 EPS. Ameriprise Financial’s revenue was up 10.8% on a year-over-year basis. Research analysts expect that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $1.48 dividend. The ex-dividend date is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is 18.38%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMP. The Goldman Sachs Group boosted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Piper Sandler increased their target price on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI upped their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, Raymond James started coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $449.57.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock worth $35,560,647 in the last three months. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.