2,189 Shares in Ameriprise Financial, Inc. $AMP Purchased by Diversify Wealth Management LLC

Key Points

• Diversify Wealth Management LLC disclosed a new first-quarter stake in Ameriprise Financial, buying 2,189 shares valued at about $1.04 million.
• Ameriprise reported strong quarterly results, posting $11.26 EPS versus the $10.21 consensus estimate, while revenue rose 9.7% year over year to $4.77 billion.
• The company also raised its quarterly dividend to $1.70 per share, and analysts currently rate the stock a Hold on average with a price target of about $553.67.

Diversify Wealth Management LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,189 shares of the financial services provider's stock, valued at approximately $1,041,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider's stock worth $98,388,000 after purchasing an additional 10,782 shares in the last quarter. Pensionfund Sabic purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $1,471,000. KBC Group NV increased its position in shares of Ameriprise Financial by 12.2% in the fourth quarter. KBC Group NV now owns 150,606 shares of the financial services provider's stock valued at $73,848,000 after buying an additional 16,433 shares in the last quarter. LSV Asset Management raised its stake in shares of Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider's stock worth $133,381,000 after buying an additional 3,548 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Ameriprise Financial by 8.2% during the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider's stock worth $81,172,000 after buying an additional 12,563 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $528.07 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $550.18. The firm has a market cap of $47.47 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 0.93 and a beta of 1.16. The company's 50-day moving average is $467.73 and its two-hundred day moving average is $473.27. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.50 earnings per share. Research analysts expect that Ameriprise Financial, Inc. will post 43.46 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a $1.70 dividend. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial's dividend payout ratio (DPR) is presently 16.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares of the company's stock, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company's stock, valued at $2,934,729. This trade represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

AMP has been the topic of a number of research reports. BMO Capital Markets increased their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research report on Friday, July 10th. Piper Sandler increased their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research report on Monday. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a "hold" rating for the company. Finally, Weiss Ratings cut Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $553.67.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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