Essex Financial Services Inc. Purchases Shares of 592 Ameriprise Financial, Inc. (NYSE:AMP)

Essex Financial Services Inc. acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 592 shares of the financial services provider’s stock, valued at approximately $225,000.

Several other hedge funds also recently modified their holdings of the stock. Signaturefd LLC boosted its position in Ameriprise Financial by 1.4% during the third quarter. Signaturefd LLC now owns 2,238 shares of the financial services provider’s stock valued at $738,000 after purchasing an additional 31 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in shares of Ameriprise Financial by 1.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock valued at $1,128,000 after buying an additional 31 shares during the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Ameriprise Financial by 5.1% in the fourth quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock valued at $249,000 after buying an additional 32 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Ameriprise Financial by 1.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock worth $827,000 after buying an additional 33 shares during the last quarter. Finally, CI Investments Inc. raised its position in Ameriprise Financial by 2.6% during the third quarter. CI Investments Inc. now owns 1,336 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMP. UBS Group lifted their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI upped their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Piper Sandler lifted their target price on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada increased their price target on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $449.57.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was 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 directly owns 12,500 shares in the company, valued at $4,832,500. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the transaction, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 13,346 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,326 shares of company stock valued at $29,775,593. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $418.95 on Friday. The business’s 50 day moving average is $420.18 and its 200-day moving average is $383.81. The firm has a market cap of $41.97 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $7.25 EPS. Equities research analysts predict that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is presently 18.38%.

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.