Daymark Wealth Partners LLC Grows Holdings in Ameriprise Financial, Inc. $AMP

Daymark Wealth Partners LLC increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 956 shares of the financial services provider’s stock after acquiring an additional 35 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Ameriprise Financial were worth $510,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AMP. Brighton Jones LLC increased 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 buying an additional 50 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Ameriprise Financial by 9.7% in the 1st quarter. Vontobel Holding Ltd. now owns 7,749 shares of the financial services provider’s stock worth $3,751,000 after buying an additional 686 shares in the last quarter. Clear Creek Financial Management LLC purchased a new stake in Ameriprise Financial in the 1st quarter worth $237,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Ameriprise Financial by 1.9% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,246 shares of the financial services provider’s stock worth $5,444,000 after buying an additional 207 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in Ameriprise Financial by 13.4% in the 1st quarter. DAVENPORT & Co LLC now owns 27,045 shares of the financial services provider’s stock worth $13,093,000 after buying an additional 3,204 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AMP. Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Raymond James Financial increased their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Morgan Stanley cut their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. Piper Sandler raised their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $539.50.

Ameriprise Financial Trading Down 5.3%

AMP opened at $453.41 on Friday. The firm has a market cap of $42.74 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.07 and a beta of 1.26. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $491.95 and a 200 day moving average of $503.02.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $9.92 EPS for the quarter, topping the consensus estimate of $9.76 by $0.16. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $9.02 earnings per share. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 10th will be given a $1.60 dividend. The ex-dividend date is Monday, November 10th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

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.