Oppenheimer Asset Management Inc. Boosts Stock Position in Ameriprise Financial, Inc. $AMP

Oppenheimer Asset Management Inc. lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 26.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,250 shares of the financial services provider’s stock after purchasing an additional 1,508 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ameriprise Financial were worth $3,562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Brighton Jones LLC increased its holdings in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after buying an additional 50 shares during the period. Empowered Funds LLC boosted its holdings in shares of Ameriprise Financial by 11.8% in the 1st 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. Sivia Capital Partners LLC increased its stake in shares of Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 72 shares during the period. Concurrent Investment Advisors LLC raised its holdings in shares of Ameriprise Financial by 93.9% during the second quarter. Concurrent Investment Advisors LLC now owns 1,295 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 627 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its position in Ameriprise Financial by 10.4% during the second quarter. Atria Wealth Solutions Inc. now owns 3,523 shares of the financial services provider’s stock valued at $1,880,000 after purchasing an additional 332 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,158 shares of company stock worth $7,014,685 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 3.9%

AMP stock opened at $486.01 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $552.43. 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 firm has a market cap of $45.15 billion, a P/E ratio of 13.37, a PEG ratio of 1.18 and a beta of 1.26. The company’s 50-day simple moving average is $502.58 and its 200-day simple moving average is $491.68.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.Ameriprise Financial’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.54 EPS. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Morgan Stanley upped their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Finally, Jefferies Financial Group boosted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $555.67.

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.