Piedmont Capital Management LLC NC Makes New Investment in Ameriprise Financial, Inc. $AMP

Piedmont Capital Management LLC NC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,320 shares of the financial services provider’s stock, valued at approximately $647,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SouthState Bank Corp boosted its stake in Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares during the last quarter. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial in the fourth quarter valued at $30,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the third quarter valued at $32,000. Ares Financial Consulting LLC purchased a new stake in Ameriprise Financial in the fourth quarter valued at $32,000. Finally, WFA of San Diego LLC purchased a new stake in Ameriprise Financial in the second quarter valued at $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Down 0.1%

Shares of NYSE AMP opened at $458.54 on Monday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a fifty day simple moving average of $457.02 and a 200-day simple moving average of $472.92. The stock has a market capitalization of $41.22 billion, a PE ratio of 11.40, a PEG ratio of 0.97 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the firm posted $9.50 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, May 4th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is presently 16.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley lifted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Weiss Ratings downgraded Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating on the stock. Piper Sandler lifted their target price on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $543.22.

About Ameriprise Financial

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.