Fielder Capital Group LLC Purchases Shares of 2,043 Ameriprise Financial, Inc. (NYSE:AMP)

Fielder Capital Group LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,043 shares of the financial services provider’s stock, valued at approximately $776,000.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $25,000. Carmel Capital Partners LLC bought a new stake in Ameriprise Financial during the third quarter worth $30,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at $34,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $34,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $39,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMP shares. Royal Bank of Canada upped their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. UBS Group lifted their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Morgan Stanley lifted their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler upped their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $450.88.

Ameriprise Financial Price Performance

Shares of AMP stock traded down $0.09 on Tuesday, reaching $424.87. The company had a trading volume of 386,735 shares, compared to its average volume of 495,777. The stock has a market capitalization of $42.57 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average is $420.52 and its 200 day moving average is $385.34. Ameriprise Financial, Inc. has a one year low of $286.58 and a one year high of $440.67.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $7.25 earnings per share. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a $1.48 dividend. 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 annualized dividend and a yield of 1.39%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insider Activity

In related news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,326 shares of company stock valued at $28,229,193. 0.96% of the stock is currently owned by corporate insiders.

About Ameriprise Financial

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.