Wealth Enhancement Advisory Services LLC Boosts Position in Ameriprise Financial, Inc. $AMP

Wealth Enhancement Advisory Services LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 35.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,144 shares of the financial services provider’s stock after buying an additional 8,640 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ameriprise Financial were worth $16,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC raised its stake in shares of Ameriprise Financial by 22.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 7,959 shares of the financial services provider’s stock valued at $4,042,000 after acquiring an additional 1,475 shares in the last quarter. Wedmont Private Capital increased its holdings in Ameriprise Financial by 1.8% during the 4th quarter. Wedmont Private Capital now owns 3,621 shares of the financial services provider’s stock worth $1,804,000 after purchasing an additional 63 shares during the period. Procyon Advisors LLC increased its holdings in Ameriprise Financial by 106.8% during the 4th quarter. Procyon Advisors LLC now owns 6,348 shares of the financial services provider’s stock worth $3,113,000 after purchasing an additional 3,278 shares during the period. Harbor Investment Advisory LLC raised its position in Ameriprise Financial by 14.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 476 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 61 shares in the last quarter. Finally, Sagespring Wealth Partners LLC raised its position in Ameriprise Financial by 4.9% during the 4th quarter. Sagespring Wealth Partners LLC now owns 1,296 shares of the financial services provider’s stock valued at $636,000 after purchasing an additional 61 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Ameriprise Financial Stock Up 0.8%

Shares of NYSE AMP opened at $451.76 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $41.19 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.04 and a beta of 1.27. The stock’s fifty day simple moving average is $481.20 and its two-hundred day simple moving average is $481.00. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18.

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

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Finally, Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research report 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.