SeaCrest Wealth Management LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

SeaCrest Wealth Management LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMPGet Rating) in the 2nd quarter, Holdings Channel reports. The fund bought 183 shares of the financial services provider’s stock, valued at approximately $43,000.

Several other large investors also recently modified their holdings of the business. National Asset Management Inc. grew its stake in Ameriprise Financial by 1.9% in the first quarter. National Asset Management Inc. now owns 2,276 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 42 shares in the last quarter. FDx Advisors Inc. grew its stake in Ameriprise Financial by 2.9% in the first quarter. FDx Advisors Inc. now owns 5,204 shares of the financial services provider’s stock worth $1,563,000 after purchasing an additional 146 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Ameriprise Financial by 3.8% in the first quarter. State of New Jersey Common Pension Fund D now owns 65,502 shares of the financial services provider’s stock worth $19,674,000 after purchasing an additional 2,397 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Ameriprise Financial in the first quarter worth about $233,000. Finally, Metis Global Partners LLC grew its stake in Ameriprise Financial by 78.3% in the first quarter. Metis Global Partners LLC now owns 1,771 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 778 shares in the last quarter. 82.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMP shares. Credit Suisse Group lifted their price target on Ameriprise Financial to $351.00 in a research note on Tuesday, November 1st. StockNews.com raised shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 12th. Piper Sandler raised their target price on shares of Ameriprise Financial from $240.00 to $250.00 and gave the stock an “underweight” rating in a report on Friday, October 7th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $310.00 to $340.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Bank of America began coverage on shares of Ameriprise Financial in a report on Wednesday, September 7th. They issued a “buy” rating and a $336.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $324.11.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $277.01, for a total transaction of $277,010.00. Following the sale, the director now owns 16,500 shares of the company’s stock, valued at $4,570,665. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $277.01, for a total transaction of $277,010.00. Following the sale, the director now owns 16,500 shares of the company’s stock, valued at $4,570,665. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 4,129 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $324.66, for a total value of $1,340,521.14. Following the completion of the transaction, the executive vice president now directly owns 5,272 shares in the company, valued at approximately $1,711,607.52. The disclosure for this sale can be found here. Insiders have sold a total of 17,112 shares of company stock valued at $5,545,678 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Ameriprise Financial Stock Performance

AMP opened at $328.70 on Monday. The business’s 50 day moving average is $285.46 and its 200-day moving average is $268.77. The stock has a market cap of $34.98 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.78 and a beta of 1.47. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.60. Ameriprise Financial, Inc. has a twelve month low of $219.99 and a twelve month high of $339.41.

Ameriprise Financial (NYSE:AMPGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.85 by $0.58. Ameriprise Financial had a return on equity of 61.53% and a net margin of 19.17%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the previous year, the company posted $5.91 earnings per share. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial, Inc. will post 24.38 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $5.00 annualized dividend and a yield of 1.52%. Ameriprise Financial’s payout ratio is 20.85%.

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.

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

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