Apollon Wealth Management LLC Boosts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Apollon Wealth Management LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 46.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,956 shares of the financial services provider’s stock after buying an additional 1,570 shares during the period. Apollon Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,882,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its stake in shares of Ameriprise Financial by 1.4% in the 3rd quarter. Signaturefd LLC now owns 2,238 shares of the financial services provider’s stock valued at $738,000 after buying an additional 31 shares during the period. Meeder Advisory Services Inc. grew its stake in shares of Ameriprise Financial by 1.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock valued at $1,128,000 after buying an additional 31 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of Ameriprise Financial by 5.1% in the 4th quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock valued at $249,000 after buying an additional 32 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Ameriprise Financial by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock valued at $827,000 after buying an additional 33 shares during the period. Finally, CI Investments Inc. grew its stake in shares of Ameriprise Financial by 2.6% in the 3rd quarter. CI Investments Inc. now owns 1,336 shares of the financial services provider’s stock valued at $440,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMP. UBS Group increased 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. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Evercore ISI lifted their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Argus lifted their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $450.88.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded down $0.76 during trading on Wednesday, hitting $424.11. 78,619 shares of the company were exchanged, compared to its average volume of 491,063. The company has a market cap of $42.49 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.71 and a beta of 1.35. Ameriprise Financial, Inc. has a 1 year low of $286.58 and a 1 year high of $440.67. The firm’s fifty day moving average price is $420.85 and its 200 day moving average price is $386.14. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $7.25 EPS. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a $1.48 dividend. The ex-dividend date is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.40%. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling

In related news, CEO James M. Cracchiolo sold 12,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $401.48, for a total value of $4,817,760.00. Following the sale, the chief executive officer now directly owns 169,012 shares in the company, valued at approximately $67,854,937.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 2,493 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $401.11, for a total value of $999,967.23. Following the completion of the transaction, the chief executive officer now owns 196,598 shares in the company, valued at approximately $78,857,423.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James M. Cracchiolo sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $401.48, for a total value of $4,817,760.00. Following the completion of the transaction, the chief executive officer now owns 169,012 shares of the company’s stock, valued at approximately $67,854,937.76. The disclosure for this sale can be found here. Insiders have sold 56,980 shares of company stock worth $23,053,480 in the last three months. 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.