Piedmont Capital Management LLC NC Acquires Shares of 1,320 Ameriprise Financial, Inc. $AMP

Piedmont Capital Management LLC NC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,320 shares of the financial services provider’s stock, valued at approximately $647,000.

Several other institutional investors also recently bought and sold shares of the business. Resources Management Corp CT ADV grew its holdings in Ameriprise Financial by 283.3% in the fourth quarter. Resources Management Corp CT ADV now owns 115 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 85 shares during the period. South Plains Financial Inc. grew its holdings in Ameriprise Financial by 8.7% in the fourth quarter. South Plains Financial Inc. now owns 1,001 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 80 shares during the period. MML Investors Services LLC grew its holdings in Ameriprise Financial by 1.8% in the fourth quarter. MML Investors Services LLC now owns 79,740 shares of the financial services provider’s stock valued at $39,100,000 after purchasing an additional 1,438 shares during the period. Mariner LLC grew its holdings in Ameriprise Financial by 45.5% in the fourth quarter. Mariner LLC now owns 52,474 shares of the financial services provider’s stock valued at $25,747,000 after purchasing an additional 16,420 shares during the period. Finally, Focus Partners Wealth grew its holdings in Ameriprise Financial by 41.1% in the fourth quarter. Focus Partners Wealth now owns 35,507 shares of the financial services provider’s stock valued at $17,411,000 after purchasing an additional 10,351 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. Piper Sandler raised their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating on the stock. Morgan Stanley raised their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $543.22.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $458.54 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The business’s 50 day moving average price is $457.02 and its 200-day moving average price is $472.92. The firm has a market capitalization of $41.22 billion, a PE ratio of 11.40, a P/E/G ratio of 0.97 and a beta of 1.16. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $9.50 earnings per share. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Insider Buying and Selling

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.