NewEdge Advisors LLC Acquires 4,824 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

NewEdge Advisors LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 54.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,697 shares of the financial services provider's stock after purchasing an additional 4,824 shares during the quarter. NewEdge Advisors LLC's holdings in Ameriprise Financial were worth $7,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $36,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded up $2.91 during trading on Thursday, hitting $474.76. 363,863 shares of the stock were exchanged, compared to its average volume of 490,710. The stock has a market cap of $45.49 billion, a PE ratio of 14.36, a P/E/G ratio of 1.15 and a beta of 1.23. The stock's fifty day moving average is $489.94 and its 200 day moving average is $522.27. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.17 by $0.33. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's payout ratio is currently 17.91%.

Analyst Ratings Changes

A number of brokerages have weighed in on AMP. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler increased their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley increased their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of "Hold" and a consensus target price of $517.44.

Insider Activity

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Company Profile

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.