Merit Financial Group LLC Grows Stock Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Merit Financial Group LLC boosted its stake by 61.5% in Ameriprise Financial in Q4, owning 8,244 shares worth about $4.04 million.
• Senior insiders have recently sold significant stock—CFO Walter Stanley Berman sold 7,000 shares and CEO William F. Truscott sold 5,000 shares—with insiders offloading 16,658 shares (~$8.99M) in the past three months.
• Ameriprise beat quarterly estimates (EPS $10.83 vs. $10.33; revenue $4.92B vs. $4.75B, +10.2% YoY) and pays a quarterly dividend of $1.60 (annualized $6.40, yield 1.4%).

Merit Financial Group LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 61.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,244 shares of the financial services provider's stock after buying an additional 3,139 shares during the period. Merit Financial Group LLC's holdings in Ameriprise Financial were worth $4,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of AMP. Holos Integrated Wealth LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the 3rd quarter valued at $32,000. WFA of San Diego LLC bought a new position in Ameriprise Financial in the 2nd quarter valued at $36,000. Salomon & Ludwin LLC boosted its holdings in Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 43 shares during the period. Finally, Corundum Trust Company INC bought a new position in Ameriprise Financial in the 3rd quarter valued at $49,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the company's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 16,658 shares of company stock worth $8,998,675. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $455.79 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $41.56 billion, a PE ratio of 12.54, a P/E/G ratio of 1.11 and a beta of 1.27. The firm has a fifty day simple moving average of $457.78 and a two-hundred day simple moving average of $475.39. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $9.54 earnings per share. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial's dividend payout ratio (DPR) is currently 17.60%.

Analysts Set New Price Targets

Several brokerages have commented on AMP. Royal Bank Of Canada reissued an "outperform" rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a "hold" rating for the company. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. Piper Sandler dropped their price objective on shares of Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating for the company in a report on Tuesday, April 7th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ameriprise Financial in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $544.22.

Ameriprise Financial Company 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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