MAI Capital Management Boosts Stock Holdings in Ameriprise Financial, Inc. $AMP

MAI Capital Management lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 27.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,311 shares of the financial services provider’s stock after buying an additional 1,977 shares during the period. MAI Capital Management’s holdings in Ameriprise Financial were worth $4,574,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AMP. Pinnacle Wealth Management Advisory Group LLC lifted its position in Ameriprise Financial by 2.9% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 21 shares during the last quarter. CreativeOne Wealth LLC increased its stake in shares of Ameriprise Financial by 2.3% in the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock worth $497,000 after buying an additional 21 shares during the period. Rexford Capital Inc. raised its holdings in Ameriprise Financial by 20.6% during the 3rd quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after buying an additional 21 shares during the last quarter. Dakota Community Bank & Trust NA boosted its position in Ameriprise Financial by 2.4% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock valued at $463,000 after buying an additional 22 shares during the period. Finally, RWA Wealth Partners LLC boosted its position in Ameriprise Financial by 0.5% during the 2nd quarter. RWA Wealth Partners LLC now owns 4,367 shares of the financial services provider’s stock valued at $2,331,000 after buying an additional 23 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP opened at $486.88 on Friday. The company has a 50-day simple moving average of $499.40 and a two-hundred day simple moving average of $488.88. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $44.39 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the company earned $9.54 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

Insider Activity

In other news, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,658 shares of company stock worth $8,998,675. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMP shares. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Keefe, Bruyette & Woods lowered their price target on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Argus dropped their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Company 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.