West Coast Financial LLC Purchases 50 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

West Coast Financial LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,409 shares of the financial services provider’s stock after buying an additional 50 shares during the quarter. West Coast Financial LLC’s holdings in Ameriprise Financial were worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of AMP. Venture Visionary Partners LLC raised its position in Ameriprise Financial by 2.9% in the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock worth $5,650,000 after purchasing an additional 416 shares during the period. 17 Capital Partners LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $2,078,000. Vanguard Personalized Indexing Management LLC grew its position in Ameriprise Financial by 0.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock worth $5,166,000 after acquiring an additional 73 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ameriprise Financial by 3.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock worth $42,238,000 after purchasing an additional 4,203 shares during the period. Finally, Cerity Partners LLC increased its position in shares of Ameriprise Financial by 280.6% in the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after acquiring an additional 22,487 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP traded down $1.79 during trading hours on Tuesday, reaching $438.56. The company had a trading volume of 161,500 shares, compared to its average volume of 474,607. The firm has a market cap of $43.56 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.75 and a beta of 1.36. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm’s 50 day moving average price is $427.11 and its 200-day moving average price is $409.01. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $446.32.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its quarterly earnings data 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. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the business earned $7.25 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that Ameriprise Financial, Inc. will post 34.95 EPS for the current year.

Ameriprise Financial Increases Dividend

The business 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. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.35%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler upped their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Argus boosted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $450.88.

View Our Latest Analysis on Ameriprise Financial

About Ameriprise Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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