Connecticut Wealth Management LLC Increases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Connecticut Wealth Management LLC lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 232.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,456 shares of the financial services provider’s stock after purchasing an additional 3,114 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. Barclays PLC increased its stake in Ameriprise Financial by 63.9% during the 3rd quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after buying an additional 136,621 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Ameriprise Financial by 134.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider’s stock worth $68,761,000 after buying an additional 119,578 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Ameriprise Financial by 107.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 209,822 shares of the financial services provider’s stock worth $69,174,000 after buying an additional 108,461 shares in the last quarter. Payden & Rygel Investment Group purchased a new stake in Ameriprise Financial during the 3rd quarter worth approximately $28,382,000. Finally, Canada Pension Plan Investment Board increased its stake in Ameriprise Financial by 398.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider’s stock worth $33,001,000 after buying an additional 80,020 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMP. Piper Sandler upped their price target on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Morgan Stanley upped their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. UBS Group upped their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Evercore ISI upped their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada upped their price target on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $449.57.

Ameriprise Financial Trading Up 0.9 %

AMP traded up $3.94 during trading hours on Friday, reaching $418.95. The company’s stock had a trading volume of 279,712 shares, compared to its average volume of 538,489. 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 business’s 50-day moving average is $420.18 and its 200-day moving average is $384.58. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The stock has a market cap of $41.97 billion, a PE ratio of 14.26, a P/E/G ratio of 0.71 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released 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. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the firm earned $7.25 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.41%. 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 18.38%.

Insiders Place Their Bets

In other 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 sale, the insider now owns 6,994 shares of the company’s stock, valued at $3,056,378. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $721,924.00. Following the sale, the insider now directly owns 6,994 shares in the company, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders have sold 74,326 shares of company stock worth $29,775,593 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

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.