Ameriprise Financial, Inc. $AMP Stake Boosted by CW Advisors LLC

Key Points

• CW Advisors LLC increased its stake in Ameriprise Financial by 14.0% during the first quarter, holding shares worth about $2.84 million as per its latest filing.
• CEO William F. Truscott sold 9,929 shares of Ameriprise stock for approximately $5.03 million, a transaction representing a 47.34% decrease in his holdings.
• Ameriprise Financial reported a 2.2% year-over-year revenue growth, with earnings per share of $9.11, exceeding analyst expectations of $9.00 for the quarter.

CW Advisors LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,861 shares of the financial services provider's stock after purchasing an additional 722 shares during the quarter. CW Advisors LLC's holdings in Ameriprise Financial were worth $2,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Ameriprise Financial by 1.9% during the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after acquiring an additional 83 shares in the last quarter. Spire Wealth Management grew its stake in Ameriprise Financial by 91.6% during the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after acquiring an additional 683 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Ameriprise Financial by 488.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after acquiring an additional 806 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Ameriprise Financial by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock valued at $12,055,000 after acquiring an additional 1,433 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Ameriprise Financial by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock valued at $2,864,000 after acquiring an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Up 2.1%

Shares of Ameriprise Financial stock opened at $515.8540 on Friday. The stock has a 50-day simple moving average of $521.12 and a 200-day simple moving average of $506.04. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $48.63 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.10 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping 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 firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the company earned $8.72 EPS. The company's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, August 4th. Ameriprise Financial's payout ratio is 19.91%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMP. Royal Bank Of Canada lifted their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Piper Sandler lifted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Finally, Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $534.71.

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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