BTC Capital Management Inc. Acquires 1,458 Shares of Ameriprise Financial, Inc. $AMP

by · The Cerbat Gem

BTC Capital Management Inc. raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 10.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,017 shares of the financial services provider’s stock after purchasing an additional 1,458 shares during the period. BTC Capital Management Inc.’s holdings in Ameriprise Financial were worth $6,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. PFG Investments LLC raised its stake in shares of Ameriprise Financial by 1.4% in the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 21 shares during the last quarter. Institute for Wealth Management LLC. boosted its position in shares of Ameriprise Financial by 3.6% during the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after buying an additional 21 shares during the last quarter. EPG Wealth Management LLC boosted its position in shares of Ameriprise Financial by 0.8% during the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after buying an additional 21 shares during the last quarter. Essex Financial Services Inc. increased its holdings in Ameriprise Financial by 2.4% in the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after buying an additional 21 shares in the last quarter. Finally, SouthState Bank Corp increased its holdings in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 1.2%

AMP stock opened at $460.73 on Thursday. The company has a market cap of $41.42 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 0.98 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The business’s 50-day moving average is $461.04 and its two-hundred day moving average is $473.38. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18.

Ameriprise Financial (NYSE:AMP – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) 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 the consensus estimate of $4.82 billion. During the same period in the previous year, the company posted $9.50 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts forecast that Ameriprise Financial, Inc. will post 42.69 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change 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 16.91%.

Analyst Ratings Changes

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

Get Our Latest Stock Report on Ameriprise Financial

Insider Buying and Selling

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction 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 approximately $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Profile

(Free Report)

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.

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