Moran Wealth Management LLC Purchases 3,240 Shares of Ameriprise Financial, Inc. $AMP

Moran Wealth Management LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,412 shares of the financial services provider’s stock after purchasing an additional 3,240 shares during the period. Ameriprise Financial makes up 1.0% of Moran Wealth Management LLC’s portfolio, making the stock its 12th largest holding. Moran Wealth Management LLC owned about 0.08% of Ameriprise Financial worth $31,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. State Street Corp boosted its position in shares of 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 valued at $2,171,360,000 after buying an additional 18,879 shares during the period. Norges Bank purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $742,438,000. Boston Partners raised its holdings in shares of Ameriprise Financial by 1.1% in the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after buying an additional 13,172 shares during the period. AQR Capital Management LLC lifted its stake in shares of Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after acquiring an additional 496,319 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake 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 acquiring an additional 6,934 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating for the company. BMO Capital Markets increased their target price 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. Piper Sandler lifted their target price on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings cut shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $543.22.

Ameriprise Financial Stock Down 0.1%

Shares of Ameriprise Financial stock opened at $488.68 on Friday. 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 stock has a market cap of $43.93 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.02 and a beta of 1.16. The firm’s 50-day moving average is $461.75 and its two-hundred day moving average is $472.50. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the business posted $9.50 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, research analysts expect that Ameriprise Financial, Inc. will post 43.01 earnings per share 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 issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is 16.91%.

About Ameriprise Financial

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.