Legacy Capital Wealth Partners LLC Has $301,000 Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Legacy Capital Wealth Partners LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 14.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 792 shares of the financial services provider’s stock after acquiring an additional 101 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Ameriprise Financial were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Ameriprise Financial by 2.4% in the 3rd quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after acquiring an additional 20,970 shares in the last quarter. Invesco Ltd. increased its holdings in Ameriprise Financial by 13.4% in the third quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock worth $221,816,000 after purchasing an additional 79,611 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Ameriprise Financial by 12.5% in the third quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock worth $204,417,000 after purchasing an additional 69,078 shares in the last quarter. Barclays PLC lifted its stake in Ameriprise Financial by 63.9% in the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock valued at $115,517,000 after buying an additional 136,621 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Ameriprise Financial by 6.0% during the 4th quarter. Federated Hermes Inc. now owns 304,953 shares of the financial services provider’s stock worth $115,830,000 after buying an additional 17,307 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 1.5 %

Shares of NYSE:AMP opened at $416.35 on Tuesday. The stock has a market cap of $41.71 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.70 and a beta of 1.36. The business’s 50 day moving average is $419.02 and its 200 day moving average is $382.14. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67. 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 (NYSE:AMP) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (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 firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the business posted $7.25 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.65 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.42%. Ameriprise Financial’s dividend payout ratio (DPR) is 18.38%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Evercore ISI raised their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley upped their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods raised their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $449.57.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at $3,056,378. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at $4,832,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 74,326 shares of company stock valued at $29,775,593 in the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

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.