Wealthstar Advisors LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Wealthstar Advisors LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 479 shares of the financial services provider’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Gotham Asset Management LLC boosted its stake in Ameriprise Financial by 12.3% during the 3rd quarter. Gotham Asset Management LLC now owns 1,096 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 120 shares during the period. AQR Capital Management LLC lifted its stake in shares of Ameriprise Financial by 3.8% in the 3rd quarter. AQR Capital Management LLC now owns 62,243 shares of the financial services provider’s stock worth $20,520,000 after acquiring an additional 2,274 shares during the period. Lido Advisors LLC lifted its stake in shares of Ameriprise Financial by 287.2% in the 3rd quarter. Lido Advisors LLC now owns 22,187 shares of the financial services provider’s stock worth $7,315,000 after acquiring an additional 16,457 shares during the period. Seven Eight Capital LP lifted its stake in shares of Ameriprise Financial by 33.0% in the 3rd quarter. Seven Eight Capital LP now owns 3,641 shares of the financial services provider’s stock worth $1,200,000 after acquiring an additional 903 shares during the period. Finally, Royal London Asset Management Ltd. lifted its stake in shares of Ameriprise Financial by 14.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 39,602 shares of the financial services provider’s stock worth $13,060,000 after acquiring an additional 4,850 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 0.0 %

Shares of AMP stock traded up $0.13 during trading hours on Thursday, reaching $434.00. 182,915 shares of the stock traded hands, compared to its average volume of 432,379. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $446.32. The business has a fifty day moving average price of $429.29 and a 200 day moving average price of $411.59. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $43.10 billion, a PE ratio of 14.77, a PEG ratio of 0.74 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) 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 analyst estimates 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 was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.25 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Evercore ISI upped their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Piper Sandler reduced their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Argus upped their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Keefe, Bruyette & Woods upped 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 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $456.22.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were 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 $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

About Ameriprise Financial

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.