Premier Path Wealth Partners LLC Reduces Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Premier Path Wealth Partners LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,283 shares of the financial services provider’s stock after selling 31 shares during the period. Premier Path Wealth Partners LLC’s holdings in Ameriprise Financial were worth $563,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth $28,000. Annapolis Financial Services LLC raised its stake in shares of Ameriprise Financial by 928.6% during the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 65 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth about $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter worth about $34,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Ameriprise Financial during the 4th quarter valued at about $34,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.2 %

NYSE:AMP traded up $0.98 during mid-day trading on Tuesday, hitting $434.08. 334,805 shares of the company’s stock were exchanged, compared to its average volume of 485,573. Ameriprise Financial, Inc. has a one year low of $291.87 and a one year high of $442.09. The business has a fifty day moving average price of $425.16 and a 200 day moving average price of $394.31. The company has a market cap of $43.11 billion, a PE ratio of 14.77, a P/E/G ratio of 0.74 and a beta of 1.35. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results 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 company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.25 EPS. Equities analysts predict that Ameriprise Financial, Inc. will post 34.93 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 20.15%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Argus increased their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. Piper Sandler upped 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. Evercore ISI lifted their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. One 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. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $450.88.

Insider Buying and Selling

In other Ameriprise Financial news, CEO James M. Cracchiolo sold 12,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $401.48, for a total transaction of $4,817,760.00. Following the completion of the sale, the chief executive officer now directly owns 169,012 shares in the company, valued at approximately $67,854,937.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 12,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $401.48, for a total transaction of $4,817,760.00. Following the sale, the chief executive officer now directly owns 169,012 shares in the company, valued at approximately $67,854,937.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The disclosure for this sale can be found here. Insiders have sold a total of 33,201 shares of company stock worth $13,599,126 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

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.