Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Clearstead Advisors LLC

Clearstead Advisors LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,382 shares of the financial services provider’s stock after purchasing an additional 39 shares during the quarter. Clearstead Advisors LLC’s holdings in Ameriprise Financial were worth $348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Business Financial Services Inc. increased its holdings in shares of Ameriprise Financial by 834.8% in the third quarter. First Business Financial Services Inc. now owns 10,217 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 9,124 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Ameriprise Financial by 6.0% in the third quarter. Kingsview Wealth Management LLC now owns 2,825 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 161 shares during the last quarter. Mather Group LLC. grew its position in Ameriprise Financial by 122.9% in the third quarter. Mather Group LLC. now owns 2,851 shares of the financial services provider’s stock worth $718,000 after acquiring an additional 1,572 shares during the period. Washington Trust Bank purchased a new position in Ameriprise Financial in the third quarter worth approximately $205,000. Finally, BNP Paribas Arbitrage SNC grew its position in Ameriprise Financial by 21.4% in the third quarter. BNP Paribas Arbitrage SNC now owns 130,272 shares of the financial services provider’s stock worth $32,822,000 after acquiring an additional 22,996 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 11,480 shares of Ameriprise Financial stock in a transaction on Monday, February 13th. The stock was sold at an average price of $355.33, for a total value of $4,079,188.40. Following the completion of the transaction, the chief executive officer now directly owns 17,489 shares in the company, valued at $6,214,366.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ameriprise Financial news, CEO William F. Truscott sold 11,480 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $355.33, for a total value of $4,079,188.40. Following the sale, the chief executive officer now directly owns 17,489 shares in the company, valued at $6,214,366.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 6,390 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total value of $2,238,736.50. Following the completion of the sale, the insider now owns 10,955 shares in the company, valued at $3,838,084.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,738 shares of company stock worth $26,606,004. Company insiders own 1.00% of the company’s stock.

Ameriprise Financial Trading Up 3.8 %

AMP opened at $297.71 on Wednesday. Ameriprise Financial, Inc. has a 52 week low of $219.99 and a 52 week high of $357.46. The business has a fifty day simple moving average of $337.06 and a 200-day simple moving average of $310.35. The firm has a market cap of $31.68 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.55 and a beta of 1.49. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.43.

Ameriprise Financial (NYSE:AMP – Get Rating) last released its earnings results on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.35 by $0.59. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.46 billion. Ameriprise Financial had a return on equity of 70.64% and a net margin of 17.91%. Ameriprise Financial’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the business posted $6.15 earnings per share. On average, equities analysts expect that Ameriprise Financial, Inc. will post 30.69 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 10th were issued a $1.25 dividend. The ex-dividend date was Thursday, February 9th. This represents a $5.00 dividend on an annualized basis and a yield of 1.68%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.27%.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMP shares. Argus increased their price objective on Ameriprise Financial from $340.00 to $392.00 in a research report on Tuesday, January 31st. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $350.00 to $375.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 31st. Morgan Stanley increased their price objective on Ameriprise Financial from $340.00 to $345.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 10th. StockNews.com upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 25th. Finally, The Goldman Sachs Group increased their price objective on Ameriprise Financial from $290.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $347.18.

Ameriprise Financial Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.