Brighton Jones LLC Has $242,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Brighton Jones LLC reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636 shares of the financial services provider’s stock after selling 110 shares during the quarter. Brighton Jones LLC’s holdings in Ameriprise Financial were worth $242,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMP. Commonwealth Equity Services LLC raised its stake in Ameriprise Financial by 2.5% during the third quarter. Commonwealth Equity Services LLC now owns 31,339 shares of the financial services provider’s stock worth $10,332,000 after acquiring an additional 760 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Ameriprise Financial by 6.5% in the third quarter. Pinnacle Associates Ltd. now owns 1,099 shares of the financial services provider’s stock valued at $362,000 after buying an additional 67 shares in the last quarter. FinTrust Capital Advisors LLC increased its stake in shares of Ameriprise Financial by 207.8% in the third quarter. FinTrust Capital Advisors LLC now owns 314 shares of the financial services provider’s stock valued at $104,000 after buying an additional 212 shares in the last quarter. Raymond James & Associates increased its stake in shares of Ameriprise Financial by 3.7% in the third quarter. Raymond James & Associates now owns 171,022 shares of the financial services provider’s stock valued at $56,382,000 after buying an additional 6,152 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Ameriprise Financial by 3.9% in the third quarter. Stratos Wealth Partners LTD. now owns 2,143 shares of the financial services provider’s stock valued at $707,000 after buying an additional 81 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the transaction, the director now owns 12,500 shares in the company, valued at $4,832,500. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the transaction, the director now owns 12,500 shares in the company, valued at $4,832,500. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,326 shares of company stock worth $29,775,593. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $418.95 on Friday. The business’s 50-day simple moving average is $419.94 and its 200 day simple moving average is $383.20. The stock has a market cap of $41.97 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.70 and a beta of 1.35. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67. 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 (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $7.25 earnings per share. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.41%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is 18.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods raised their target price 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. UBS Group raised their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler raised their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $449.57.

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.