Connecticut Wealth Management LLC Has $1.69 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Connecticut Wealth Management LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 232.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,456 shares of the financial services provider's stock after purchasing an additional 3,114 shares during the quarter. Connecticut Wealth Management LLC's holdings in Ameriprise Financial were worth $1,693,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AMP. OFI Invest Asset Management acquired a new stake in shares of Ameriprise Financial in the third quarter valued at about $25,000. Carmel Capital Partners LLC acquired a new stake in Ameriprise Financial in the third quarter valued at approximately $30,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $34,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $34,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Ratings Changes

AMP has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 24th. Evercore ISI lifted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a "market perform" rating for the company. The Goldman Sachs Group raised their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a "buy" rating in a research note on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a "market perform" rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $449.57.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $3.94 on Friday, reaching $418.95. 279,712 shares of the company's stock were exchanged, compared to its average volume of 538,489. The business's 50-day moving average is $420.18 and its two-hundred day moving average is $384.58. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The firm has a market capitalization of $41.97 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.71 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the business earned $7.25 earnings per share. Ameriprise Financial's quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.74 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a $1.48 dividend. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.41%. Ameriprise Financial's dividend payout ratio (DPR) is 18.38%.

Insider Activity at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 224 shares of the company's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Gumer Alvero sold 1,652 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the sale, the insider now directly owns 6,994 shares in the company, valued at approximately $3,056,378. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Dawn M. Brockman sold 224 shares of the business's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares of the company's stock, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders sold 74,326 shares of company stock worth $29,775,593 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Company Profile

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.