Burling Wealth Partners LLC Buys New Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Burling Wealth Partners LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,881 shares of the financial services provider's stock, valued at approximately $1,002,000.

Other large investors have also recently modified their holdings of the company. Howard Capital Management Group LLC boosted its stake in Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider's stock worth $840,000 after purchasing an additional 178 shares in the last quarter. Morse Asset Management Inc acquired a new position in Ameriprise Financial in the 3rd quarter worth approximately $940,000. Passumpsic Savings Bank acquired a new stake in shares of Ameriprise Financial in the third quarter worth $211,000. Anchor Investment Management LLC increased its holdings in Ameriprise Financial by 3,275.0% in the 3rd quarter. Anchor Investment Management LLC now owns 270 shares of the financial services provider's stock worth $127,000 after acquiring an additional 262 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new position in Ameriprise Financial during the third quarter valued at $659,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Down 0.0 %

Shares of NYSE AMP traded down $0.07 during midday trading on Tuesday, reaching $468.31. 202,724 shares of the stock were exchanged, compared to its average volume of 489,930. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The stock has a market capitalization of $44.87 billion, a P/E ratio of 14.16, a PEG ratio of 1.15 and a beta of 1.23. The company has a 50 day simple moving average of $485.25 and a 200 day simple moving average of $522.27. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.39 earnings per share. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial declared that its board has approved a stock buyback program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last three months. Insiders own 0.73% of the company's stock.

Analyst Ratings Changes

AMP has been the topic of several research analyst reports. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a report on Tuesday. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods decreased their price target on shares of Ameriprise Financial from $520.00 to $510.00 and set a "market perform" rating on the stock in a research note on Tuesday. Finally, UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $509.67.

Ameriprise Financial Company 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.