EdgeRock Capital LLC Invests $60,000 in Ameriprise Financial, Inc. (NYSE:AMP)

EdgeRock Capital LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 154 shares of the financial services provider’s stock, valued at approximately $60,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its stake in Ameriprise Financial by 2.4% in the 3rd quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after buying an additional 20,970 shares in the last quarter. Invesco Ltd. increased its position in shares of Ameriprise Financial by 13.4% in the third quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock valued at $221,816,000 after acquiring an additional 79,611 shares during the period. Envestnet Asset Management Inc. lifted its stake in Ameriprise Financial by 12.5% in the third quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock worth $204,417,000 after acquiring an additional 69,078 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Ameriprise Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 584,707 shares of the financial services provider’s stock worth $222,089,000 after acquiring an additional 4,811 shares during the period. Finally, Barclays PLC lifted its stake in Ameriprise Financial by 63.9% in the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after acquiring an additional 136,621 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded up $1.07 during trading hours on Wednesday, reaching $425.94. 338,630 shares of the stock traded hands, compared to its average volume of 494,155. The company has a 50 day moving average price of $420.85 and a 200 day moving average price of $386.14. The firm has a market capitalization of $42.67 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 0.71 and a beta of 1.35. Ameriprise Financial, Inc. has a one year low of $286.58 and a one year high of $440.67. The company has a quick ratio of 0.56, a current 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, beating 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 firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm earned $7.25 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a dividend of $1.48 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s payout ratio is presently 20.15%.

Insider Activity

In related news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO James M. Cracchiolo sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $401.48, for a total value of $4,817,760.00. Following the transaction, the chief executive officer now directly owns 169,012 shares of the company’s stock, valued at approximately $67,854,937.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. Insiders have sold a total of 56,980 shares of company stock valued at $23,053,480 in the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on AMP shares. The Goldman Sachs Group raised their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods lifted 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. Royal Bank of Canada lifted their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Morgan Stanley lifted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Raymond James initiated coverage on Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $450.88.

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.