Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 77.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,370 shares of the financial services provider’s stock after buying an additional 1,913 shares during the quarter. RWA Wealth Partners LLC’s holdings in Ameriprise Financial were worth $1,660,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Ameriprise Financial by 2.4% in the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after acquiring an additional 20,970 shares in the last quarter. Invesco Ltd. boosted its position in Ameriprise Financial by 13.4% during the third quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock worth $221,816,000 after purchasing an additional 79,611 shares during the period. Envestnet Asset Management Inc. grew its holdings in Ameriprise Financial by 12.5% during the third quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock valued at $204,417,000 after purchasing an additional 69,078 shares during the last quarter. Barclays PLC lifted its position in shares of Ameriprise Financial by 63.9% in the 3rd quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after acquiring an additional 136,621 shares during the period. Finally, Federated Hermes Inc. lifted its position in Ameriprise Financial by 6.0% during the 4th quarter. Federated Hermes Inc. now owns 304,953 shares of the financial services provider’s stock worth $115,830,000 after buying an additional 17,307 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $407.27 on Wednesday. The firm has a market cap of $40.80 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.69 and a beta of 1.36. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average price is $417.72 and its two-hundred day moving average price is $379.75. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the firm earned $7.25 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts expect that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.45%. Ameriprise Financial’s payout ratio is presently 22.78%.

Insider Activity

In related news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Walter Stanley Berman sold 13,346 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $2,485,474.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now directly owns 12,126 shares in the company, valued at $4,731,807.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,161 shares of company stock worth $35,560,647. Corporate insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMP shares. Piper Sandler upped their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Evercore ISI upped their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Raymond James started coverage on Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating for the company. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $441.00.

Ameriprise Financial Company 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.