Transcend Capital Advisors LLC Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Transcend Capital Advisors LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,641 shares of the financial services provider’s stock after selling 58 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Ameriprise Financial were worth $623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Ameriprise Financial in the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $34,000. Carmel Capital Partners LLC bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $34,000. Finally, Fortitude Family Office LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth $39,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Up 1.5 %

Ameriprise Financial stock opened at $416.35 on Tuesday. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67. The business’s fifty day moving average is $419.02 and its 200 day moving average is $382.14. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $41.71 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.70 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $7.25 earnings per share. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 34.65 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.42%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is presently 18.38%.

Analysts Set New Price Targets

AMP has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Royal Bank of Canada upped their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. UBS Group boosted their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Morgan Stanley raised their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group upped their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $449.57.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO William F. Truscott sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the sale, the chief executive officer now directly owns 13,134 shares in the company, valued at approximately $5,411,864.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 6,994 shares in the company, valued at $3,056,378. The disclosure for this sale can be found here. Insiders have sold a total of 74,326 shares of company stock worth $29,775,593 in the last ninety days. Insiders own 0.96% of the company’s stock.

About Ameriprise Financial

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.