NewEdge Advisors LLC Sells 910 Shares of Ameriprise Financial, Inc. $AMP

NewEdge Advisors LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,896 shares of the financial services provider’s stock after selling 910 shares during the quarter. NewEdge Advisors LLC’s holdings in Ameriprise Financial were worth $7,064,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. SouthState Bank Corp boosted its position in Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Ameriprise Financial in the first quarter worth about $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $32,000. Prosperity Bancshares Inc bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $33,000. Finally, WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $36,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of AMP opened at $557.14 on Tuesday. The business’s 50-day moving average is $497.62 and its two-hundred day moving average is $478.31. The company has a market capitalization of $50.09 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $565.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the firm posted $9.11 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts predict that Ameriprise Financial, Inc. will post 46.12 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be issued a $1.70 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. Ameriprise Financial’s payout ratio is presently 16.40%.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 11,012 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total value of $6,045,037.40. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. This represents a 66.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Deirdre Davey Mcgraw sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total transaction of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares in the company, valued at $1,883,078.44. The trade was a 41.57% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 35,771 shares of company stock worth $19,008,295. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMP shares. BMO Capital Markets boosted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Finally, Piper Sandler increased their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Company Profile

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.