Ameriprise Financial, Inc. $AMP Shares Purchased by Maridea Wealth Management LLC

Maridea Wealth Management LLC raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 76.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 833 shares of the financial services provider’s stock after buying an additional 360 shares during the period. Maridea Wealth Management LLC’s holdings in Ameriprise Financial were worth $445,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AMP. Brighton Jones LLC lifted its stake in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares in the last quarter. GTS Securities LLC increased its position in shares of Ameriprise Financial by 423.9% during the fourth quarter. GTS Securities LLC now owns 609 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 797 shares during the period. NorthCrest Asset Manangement LLC grew its stake in shares of Ameriprise Financial by 3.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 6,325 shares of the financial services provider’s stock worth $3,368,000 after purchasing an additional 225 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Ameriprise Financial by 19.1% during the fourth quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider’s stock worth $866,000 after purchasing an additional 261 shares in the last quarter. Finally, Fire Capital Management LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $612,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.1%

Shares of AMP opened at $492.16 on Friday. The firm has a market cap of $46.40 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27. The company’s fifty day moving average is $507.59 and its two-hundred day moving average is $501.68. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm posted $8.72 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s payout ratio is 19.91%.

Wall Street Analyst Weigh In

AMP has been the subject of several research reports. Royal Bank Of Canada boosted their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Morgan Stanley downgraded shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Finally, William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $544.50.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Ameriprise Financial 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.