Wick Capital Partners LLC Invests $52,000 in Ameriprise Financial, Inc. $AMP

Wick Capital Partners LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,585 shares of the financial services provider’s stock, valued at approximately $52,000.

A number of other institutional investors also recently modified their holdings of AMP. State Street Corp increased its position in Ameriprise Financial by 0.4% during the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after acquiring an additional 18,879 shares during the period. Norges Bank acquired a new stake in Ameriprise Financial in the 4th quarter worth about $742,438,000. Boston Partners boosted its holdings in Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock valued at $586,083,000 after purchasing an additional 13,172 shares during the period. AQR Capital Management LLC boosted its holdings in Ameriprise Financial by 84.2% in the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after purchasing an additional 496,319 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Ameriprise Financial by 0.7% during the 4th quarter. Federated Hermes Inc. now owns 973,097 shares of the financial services provider’s stock worth $477,148,000 after purchasing an additional 6,934 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

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

Analysts Set New Price Targets

AMP has been the topic of several recent research reports. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Piper Sandler lifted 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. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Stock Up 0.1%

Shares of AMP opened at $467.97 on Friday. The firm has a 50 day simple moving average of $460.13 and a two-hundred day simple moving average of $473.27. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18. The company has a market cap of $42.07 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.99 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the business posted $9.50 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Research analysts forecast that Ameriprise Financial, Inc. will post 42.69 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Ameriprise Financial Company 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.