Certuity LLC Has $904,000 Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Certuity LLC increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 62.2% during the fourth quarter, Holdings Channel reports. The firm owned 2,381 shares of the financial services provider’s stock after buying an additional 913 shares during the quarter. Certuity LLC’s holdings in Ameriprise Financial were worth $904,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Ameriprise Financial in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at $34,000. Carmel Capital Partners LLC acquired a new stake in Ameriprise Financial during the 3rd quarter valued at $30,000. Wetzel Investment Advisors Inc. bought a new position in Ameriprise Financial during the fourth quarter worth $34,000. Finally, Fortitude Family Office LLC bought a new position in Ameriprise Financial during the fourth quarter worth $39,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 1.1 %

AMP opened at $411.79 on Wednesday. The company has a 50-day simple moving average of $419.32 and a 200 day simple moving average of $382.75. The stock has a market capitalization of $41.26 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 0.71 and a beta of 1.36. 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 twelve month low of $279.85 and a twelve month high of $440.67.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the firm posted $7.25 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts predict that Ameriprise Financial, Inc. will post 34.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 20.15%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the sale, the director now owns 12,500 shares in the company, valued at $4,832,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,326 shares of company stock valued at $29,775,593. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. UBS Group raised their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada upped their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI lifted their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. One 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $449.57.

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.