RFG Advisory LLC Boosts Stake in Ameriprise Financial, Inc. $AMP

RFG Advisory LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 98.8% during the first quarter, HoldingsChannel.com reports. The fund owned 3,955 shares of the financial services provider’s stock after buying an additional 1,966 shares during the period. RFG Advisory LLC’s holdings in Ameriprise Financial were worth $1,758,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMP. Brighton Jones LLC raised its holdings in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after acquiring an additional 50 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 634 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares in the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $313,000. Finally, Gabelli Funds LLC increased its holdings in shares of Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after purchasing an additional 2,922 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the 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 transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating for the company. BMO Capital Markets raised their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Piper Sandler lifted their price target on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Stock Down 0.1%

Shares of NYSE AMP opened at $452.88 on Friday. The company has a 50 day simple moving average of $460.54 and a 200-day simple moving average of $473.07. The company has a market capitalization of $40.71 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.96 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $9.50 earnings per share. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 42.69 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $1.70 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

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.