Sivia Capital Partners LLC Buys Shares of 2,553 Ameriprise Financial, Inc. $AMP

Key Points

• Sivia Capital Partners disclosed a new fourth-quarter position in Ameriprise Financial, buying 2,553 shares worth about $1.25 million.
• Ameriprise’s earnings beat estimates last quarter, reporting $11.26 EPS versus the expected $10.21, while revenue rose 9.7% year over year to $4.77 billion.
• The company also raised its quarterly dividend to $1.70 per share from $1.60, and analysts currently have an average rating of Hold with a price target of $543.22.

Sivia Capital Partners LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,553 shares of the financial services provider's stock, valued at approximately $1,252,000.

A number of other institutional investors have also recently added to or reduced their stakes in AMP. Brighton Jones LLC lifted its stake in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 50 shares during the last quarter. Empowered Funds LLC lifted its stake in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after acquiring an additional 634 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in shares of Ameriprise Financial in the second quarter valued at approximately $313,000. Gabelli Funds LLC raised its position in shares of Ameriprise Financial by 224.8% in the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock valued at $2,253,000 after purchasing an additional 2,922 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Ameriprise Financial by 43.2% in the second quarter. Squarepoint Ops LLC now owns 32,116 shares of the financial services provider's stock valued at $17,141,000 after purchasing an additional 9,693 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Gerard P. Smyth sold 6,255 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares of the company's stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a research report on Wednesday, February 11th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research report on Thursday, April 30th. BMO Capital Markets lifted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $543.22.

Ameriprise Financial Trading Down 0.8%

Shares of AMP stock opened at $442.04 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The firm's fifty day simple moving average is $455.69 and its 200 day simple moving average is $472.62. The firm has a market capitalization of $39.74 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.16. 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 announced its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm posted $9.50 earnings per share. Ameriprise Financial's revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial's payout ratio is presently 16.91%.

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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