Fifth Third Wealth Advisors LLC Has $980,000 Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Fifth Third Wealth Advisors LLC lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 19.1% in the 1st quarter, Holdings Channel reports. The firm owned 2,234 shares of the financial services provider’s stock after buying an additional 359 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $980,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMP. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at $32,000. Turtle Creek Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 4th quarter worth $34,000. Wetzel Investment Advisors Inc. acquired a new position in Ameriprise Financial during the 4th quarter worth $34,000. Fortitude Family Office LLC acquired a new position in Ameriprise Financial during the 4th quarter worth $39,000. Finally, American National Bank lifted its position in Ameriprise Financial by 116.3% during the 1st quarter. American National Bank now owns 106 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 57 shares during the last quarter. 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, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AMP. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Evercore ISI boosted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Argus boosted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday. Finally, Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $456.22.

Ameriprise Financial Price Performance

NYSE AMP traded down $3.15 on Friday, reaching $427.19. The company’s stock had a trading volume of 1,189,419 shares, compared to its average volume of 480,526. The firm has a market cap of $42.43 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The business has a 50-day moving average price of $428.10 and a 200 day moving average price of $409.75. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $446.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last posted its earnings results 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. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.25 earnings per share. Sell-side analysts expect that Ameriprise Financial, Inc. will post 34.95 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a $1.48 dividend. 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. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. Ameriprise Financial’s payout ratio is 20.15%.

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.