Ameriprise Financial, Inc. $AMP Shares Bought by Vest Financial LLC

Key Points

• Vest Financial LLC raised its stake in Ameriprise by 23.9% to 53,717 shares, representing about 0.06% of the company and valued at roughly $26.34 million.
• Corporate insiders sold 16,658 shares worth about $8.99 million last quarter, including CFO Walter Stanley Berman (7,000 shares), leaving insiders with a 0.60% ownership stake.
• Ameriprise topped EPS estimates ($11.26 vs. $10.21) and increased its quarterly dividend to $1.70 (annualized $6.80, ~1.4% yield), payable May 22 with an ex-dividend date of May 4.

Vest Financial LLC raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 23.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,717 shares of the financial services provider's stock after purchasing an additional 10,357 shares during the quarter. Vest Financial LLC owned 0.06% of Ameriprise Financial worth $26,340,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AMP. Rexford Capital Inc. lifted its position in Ameriprise Financial by 20.6% in the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider's stock valued at $60,000 after buying an additional 21 shares during the last quarter. PFG Investments LLC raised its stake in shares of Ameriprise Financial by 1.4% in the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider's stock valued at $729,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. raised its stake in shares of Ameriprise Financial by 3.6% in the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider's stock valued at $297,000 after acquiring an additional 21 shares during the period. EPG Wealth Management LLC lifted its holdings in shares of Ameriprise Financial by 0.8% in the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider's stock worth $1,331,000 after acquiring an additional 21 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Ameriprise Financial by 0.8% during the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider's stock worth $1,504,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 7,000 shares of the business's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the company's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,658 shares of company stock valued at $8,998,675 in the last quarter. Corporate insiders own 0.60% of the company's stock.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $475.60 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The firm has a market cap of $43.36 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.27. The company's 50 day moving average is $454.79 and its two-hundred day moving average is $474.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company's revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.50 earnings per share. On average, research analysts expect that Ameriprise Financial, Inc. will post 41.24 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a dividend of $1.70 per share. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. This represents a $6.80 annualized dividend and a yield of 1.4%. Ameriprise Financial's dividend payout ratio (DPR) is currently 15.92%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a "hold" rating for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Piper Sandler decreased their target price on Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating on the stock in a research note on Tuesday, April 7th. Finally, Jefferies Financial Group raised their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $540.33.

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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