870 Shares in Ameriprise Financial, Inc. $AMP Acquired by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC acquired 870 shares of Ameriprise Financial, valued at approximately $464,000, as part of its new position in the company.
• CEO William F. Truscott sold 9,929 shares of the stock for over $5 million, representing a 47.34% decrease in his position.
• Analyst ratings for Ameriprise Financial include a mix of opinions, with one Strong Buy rating, one Buy rating, and several other mixed ratings leading to a consensus of "Hold".

GC Wealth Management RIA LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 870 shares of the financial services provider's stock, valued at approximately $464,000.

Several other large investors have also recently made changes to their positions in the company. First County Bank CT increased its position in shares of Ameriprise Financial by 29.9% during the second quarter. First County Bank CT now owns 1,150 shares of the financial services provider's stock worth $614,000 after purchasing an additional 265 shares in the last quarter. Investment Advisory Services Inc. TX ADV purchased a new stake in shares of Ameriprise Financial during the second quarter worth approximately $216,000. Patton Albertson Miller Group LLC increased its position in shares of Ameriprise Financial by 1.6% during the second quarter. Patton Albertson Miller Group LLC now owns 13,968 shares of the financial services provider's stock worth $7,455,000 after purchasing an additional 215 shares in the last quarter. Sonora Investment Management Group LLC purchased a new stake in shares of Ameriprise Financial during the second quarter worth approximately $203,000. Finally, Twelve Points Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the second quarter worth approximately $220,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares of the company's stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Raymond James Financial boosted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Morgan Stanley lowered Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $462.00 to $530.00 in a research note on Tuesday, July 15th. Piper Sandler boosted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada boosted their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $544.50.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $490.50 on Wednesday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The business's fifty day simple moving average is $505.04 and its 200-day simple moving average is $502.19. The firm has a market cap of $46.24 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the company posted $8.72 EPS. The company's quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial's dividend payout ratio is 19.91%.

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.

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