NuWave Investment Management LLC Has $296,000 Stake in Ameriprise Financial, Inc. (NYSE:AMP)

NuWave Investment Management LLC raised its stake in Ameriprise Financial, Inc. (NYSE:AMPGet Rating) by 136.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 987 shares of the financial services provider’s stock after buying an additional 569 shares during the quarter. NuWave Investment Management LLC’s holdings in Ameriprise Financial were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Brookstone Capital Management raised its position in shares of Ameriprise Financial by 65.7% during the first quarter. Brookstone Capital Management now owns 4,306 shares of the financial services provider’s stock worth $1,252,000 after purchasing an additional 1,708 shares during the period. Strategy Asset Managers LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth about $327,000. Legacy Private Trust Co. raised its position in shares of Ameriprise Financial by 0.6% during the first quarter. Legacy Private Trust Co. now owns 24,302 shares of the financial services provider’s stock worth $7,299,000 after purchasing an additional 154 shares during the period. Nordea Investment Management AB raised its position in shares of Ameriprise Financial by 447.0% during the first quarter. Nordea Investment Management AB now owns 37,727 shares of the financial services provider’s stock worth $11,732,000 after purchasing an additional 30,830 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Ameriprise Financial by 4.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 68,036 shares of the financial services provider’s stock worth $20,435,000 after purchasing an additional 2,787 shares during the period. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Gumer Alvero sold 2,044 shares of the firm’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $314.30, for a total value of $642,429.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,711 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $312.01, for a total value of $2,717,919.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,377 shares of company stock valued at $21,148,716. Corporate insiders own 1.00% of the company’s stock.

A number of research firms have recently commented on AMP. UBS Group dropped their price target on Ameriprise Financial from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, April 26th. StockNews.com started coverage on Ameriprise Financial in a research report on Thursday, March 31st. They set a “hold” rating on the stock. William Blair reiterated an “outperform” rating on shares of Ameriprise Financial in a report on Tuesday, April 26th. Piper Sandler decreased their price objective on Ameriprise Financial from $275.00 to $253.00 and set an “underweight” rating for the company in a report on Thursday, June 16th. Finally, Morgan Stanley decreased their price objective on Ameriprise Financial from $335.00 to $330.00 and set an “equal weight” rating for the company in a report on Tuesday, April 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $339.56.

AMP stock opened at $241.11 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average price of $266.31 and a two-hundred day moving average price of $288.98. The company has a market cap of $26.50 billion, a price-to-earnings ratio of 9.26 and a beta of 1.49. Ameriprise Financial, Inc. has a twelve month low of $233.16 and a twelve month high of $332.37.

Ameriprise Financial (NYSE:AMPGet Rating) last posted its quarterly earnings results on Monday, April 25th. The financial services provider reported $5.98 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.05. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.72 billion. Ameriprise Financial had a return on equity of 50.02% and a net margin of 22.45%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $5.43 earnings per share. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 25.49 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Monday, May 9th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.07%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Friday, May 6th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.20%.

About Ameriprise Financial (Get Rating)

Ameriprise Financial, Inc, through 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.

See Also

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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