NewEdge Wealth LLC Has $1.17 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

NewEdge Wealth LLC lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,079 shares of the financial services provider’s stock after selling 232 shares during the period. NewEdge Wealth LLC’s holdings in Ameriprise Financial were worth $1,170,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Valeo Financial Advisors LLC boosted its stake in Ameriprise Financial by 21.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,527 shares of the financial services provider’s stock worth $580,000 after buying an additional 272 shares in the last quarter. Sapient Capital LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $1,326,000. Round Rock Advisors LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $767,000. Cerity Partners LLC lifted its holdings in shares of Ameriprise Financial by 280.6% during the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after acquiring an additional 22,487 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 6.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 28,120 shares of the financial services provider’s stock valued at $10,681,000 after acquiring an additional 1,717 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the sale, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the sale, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the sale, the director now owns 12,500 shares in the company, valued at approximately $4,832,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,161 shares of company stock worth $35,560,647. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMP. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. UBS Group lifted their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. The Goldman Sachs Group lifted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $441.00.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $411.18 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average of $415.27 and a 200-day moving average of $375.94. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The firm has a market capitalization of $41.20 billion, a P/E ratio of 17.34, a PEG ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the firm earned $6.94 EPS. Ameriprise Financial’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, February 8th. Ameriprise Financial’s payout ratio is 22.78%.

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.