Choreo LLC Purchases New Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Choreo LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,436 shares of the financial services provider’s stock, valued at approximately $1,305,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mather Group LLC. raised its position in shares of Ameriprise Financial by 10.8% during the 4th quarter. Mather Group LLC. now owns 2,144 shares of the financial services provider’s stock valued at $814,000 after acquiring an additional 209 shares in the last quarter. Convergence Investment Partners LLC increased its position in Ameriprise Financial by 22.2% in the fourth quarter. Convergence Investment Partners LLC now owns 1,311 shares of the financial services provider’s stock worth $498,000 after buying an additional 238 shares during the period. Legacy Capital Wealth Partners LLC increased its position in Ameriprise Financial by 14.6% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 792 shares of the financial services provider’s stock worth $301,000 after buying an additional 101 shares during the period. Bank OZK increased its position in Ameriprise Financial by 8.1% in the fourth quarter. Bank OZK now owns 3,416 shares of the financial services provider’s stock worth $1,297,000 after buying an additional 257 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in Ameriprise Financial by 62.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 1,661 shares of the financial services provider’s stock worth $631,000 after buying an additional 639 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 1.1 %

NYSE:AMP opened at $411.79 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The firm has a market capitalization of $41.26 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.70 and a beta of 1.36. The stock has a fifty day simple moving average of $419.32 and a 200 day simple moving average of $382.75.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the business earned $7.25 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.65 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. The ex-dividend date is Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.44%. Ameriprise Financial’s dividend payout ratio (DPR) is 18.38%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the completion of the sale, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at approximately $5,411,864.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the transaction, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at approximately $5,411,864.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at $2,485,474.29. The disclosure for this sale can be found here. Insiders sold 74,326 shares of company stock valued at $29,775,593 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AMP shares. Royal Bank of Canada increased their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Morgan Stanley raised their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. UBS Group raised their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Piper Sandler raised their price target on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Finally, The Goldman Sachs Group raised their price target on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $449.57.

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.