Connecticut Wealth Management LLC Acquires 3,114 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Connecticut Wealth Management LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 232.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,456 shares of the financial services provider’s stock after acquiring an additional 3,114 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of AMP. First National Trust Co purchased a new position in Ameriprise Financial during the fourth quarter valued at $231,000. Sapient Capital LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth about $1,326,000. Benjamin F. Edwards & Company Inc. boosted its stake in Ameriprise Financial by 117.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,111 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 600 shares in the last quarter. Natixis Advisors L.P. grew its position in Ameriprise Financial by 1.0% during the 4th quarter. Natixis Advisors L.P. now owns 125,930 shares of the financial services provider’s stock valued at $47,832,000 after purchasing an additional 1,301 shares during the last quarter. Finally, FFT Wealth Management LLC increased its stake in Ameriprise Financial by 6.0% during the 4th quarter. FFT Wealth Management LLC now owns 1,020 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 58 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Shares of AMP traded up $3.94 during trading hours on Friday, hitting $418.95. The 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. Ameriprise Financial, Inc. has a 12 month low of $279.85 and a 12 month high of $440.67. The firm has a market capitalization of $41.97 billion, a PE ratio of 14.26, a PEG ratio of 0.71 and a beta of 1.35. The stock has a fifty day moving average price of $420.18 and a 200 day moving average price of $384.58.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data 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 return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the company posted $7.25 earnings per share. Ameriprise Financial’s revenue was up 10.8% compared to the same quarter last year. Analysts anticipate that Ameriprise Financial, Inc. will post 34.74 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.41%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is presently 18.38%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. UBS Group upped their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Evercore ISI lifted their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Piper Sandler upped their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $449.57.

Insider Buying and Selling

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’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 sale, the director now owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The disclosure for this sale can be found here. Insiders sold 74,326 shares of company stock valued at $29,775,593 over the last 90 days. Company 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.