Ameriprise Financial, Inc. $AMP Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 42.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,606 shares of the financial services provider’s stock after selling 1,176 shares during the period. GC Wealth Management RIA LLC’s holdings in Ameriprise Financial were worth $787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in AMP. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $32,000. Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $32,000. WFA of San Diego LLC acquired a new stake in Ameriprise Financial in the 2nd quarter valued at approximately $36,000. Finally, Salomon & Ludwin LLC increased 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 last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley boosted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating on the stock. Piper Sandler cut their target price on Ameriprise Financial from $530.00 to $460.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Finally, Jefferies Financial Group raised their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $542.00.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,658 shares of company stock worth $8,998,675 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $474.97 on Friday. The company has a fifty day simple moving average of $454.79 and a two-hundred day simple moving average of $474.20. The company has a market cap of $43.31 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.16 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.50 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 41.39 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. Ameriprise Financial’s payout ratio is presently 15.92%.

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.