Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,592 shares of the financial services provider’s stock after buying an additional 81 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Ameriprise Financial were worth $1,744,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler upped their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. The Goldman Sachs Group lifted their price target 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. Evercore ISI upped their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $450.88.

Ameriprise Financial Stock Up 0.5 %

AMP stock traded up $2.13 during mid-day trading on Wednesday, reaching $427.00. The company had a trading volume of 140,790 shares, compared to its average volume of 491,855. Ameriprise Financial, Inc. has a fifty-two week low of $286.58 and a fifty-two week high of $440.67. The company has a market capitalization of $42.78 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a fifty day simple moving average of $420.85 and a 200 day simple moving average of $386.14.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the firm earned $7.25 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts forecast that Ameriprise Financial, Inc. will post 34.74 earnings per share 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. Investors of record on Monday, May 6th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 8,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the completion of the transaction, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at approximately $5,411,864.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 8,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now owns 13,134 shares in the company, valued at approximately $5,411,864.70. The disclosure for this sale can be found here. Insiders have sold a total of 56,980 shares of company stock worth $23,053,480 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

About Ameriprise Financial

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.