Welch & Forbes LLC Sells 2,014 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Welch & Forbes LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,563 shares of the financial services provider’s stock after selling 2,014 shares during the period. Ameriprise Financial accounts for 1.1% of Welch & Forbes LLC’s portfolio, making the stock its 28th largest holding. Welch & Forbes LLC owned about 0.19% of Ameriprise Financial worth $74,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its holdings in Ameriprise Financial by 2.5% in the third quarter. Commonwealth Equity Services LLC now owns 31,339 shares of the financial services provider’s stock valued at $10,332,000 after buying an additional 760 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Ameriprise Financial by 6.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,099 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 67 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Ameriprise Financial by 3.9% during the third quarter. Stratos Wealth Partners LTD. now owns 2,143 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 81 shares during the period. Mackenzie Financial Corp increased its holdings in Ameriprise Financial by 3.3% in the third quarter. Mackenzie Financial Corp now owns 10,052 shares of the financial services provider’s stock valued at $3,187,000 after purchasing an additional 319 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in Ameriprise Financial by 10.3% in the third quarter. Pinnacle Wealth Management Advisory Group LLC now owns 812 shares of the financial services provider’s stock valued at $268,000 after buying an additional 76 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, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were 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 owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders sold 74,326 shares of company stock valued at $29,775,593 in the last quarter. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP traded up $6.06 on Monday, hitting $425.01. The company’s stock had a trading volume of 436,022 shares, compared to its average volume of 497,030. Ameriprise Financial, Inc. has a one year low of $286.58 and a one year high of $440.67. The stock has a fifty day moving average of $420.52 and a two-hundred day moving average of $385.34. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $42.58 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the firm posted $7.25 EPS. Ameriprise Financial’s revenue was up 10.8% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.39%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMP. Argus upped their price target on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday. Raymond James started coverage on Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating for the company. Morgan Stanley raised their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Piper Sandler raised their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $450.88.

Ameriprise Financial 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.