Robertson Stephens Wealth Management LLC Takes $644,000 Position in Ameriprise Financial, Inc. $AMP

Robertson Stephens Wealth Management LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,313 shares of the financial services provider’s stock, valued at approximately $644,000.

A number of other large investors have also made changes to their positions in AMP. Holos Integrated Wealth LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $32,000. Ares Financial Consulting LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at $32,000. WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $36,000. Finally, Activest Wealth Management increased its position in shares of Ameriprise Financial by 777.8% in the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock valued at $39,000 after buying an additional 70 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMP shares. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. Piper Sandler lowered their price objective on shares of Ameriprise Financial from $530.00 to $460.00 and set a “hold” rating for the company in a research report on Tuesday, April 7th. Finally, Jefferies Financial Group upped their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $542.00.

Ameriprise Financial Price Performance

AMP stock opened at $467.24 on Monday. The stock has a 50-day moving average price of $454.79 and a two-hundred day moving average price of $474.05. The stock has a market cap of $42.60 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a current ratio of 0.66, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. 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 earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion during 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 company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.50 EPS. Equities analysts forecast that Ameriprise Financial, Inc. will post 41.87 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 22nd. Shareholders of record on Monday, May 4th will be issued a dividend of $1.70 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio is currently 15.92%.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,658 shares of company stock worth $8,998,675. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial 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.