Robertson Stephens Wealth Management LLC Takes $644,000 Position in Ameriprise Financial, Inc. $AMP

Robertson Stephens Wealth Management LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,313 shares of the financial services provider’s stock, valued at approximately $644,000.

Other hedge funds also recently modified their holdings of the company. Holos Integrated Wealth LLC bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $32,000. Ares Financial Consulting LLC bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $32,000. WFA of San Diego LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $36,000. Finally, Activest Wealth Management grew its holdings in shares of Ameriprise Financial by 777.8% in the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.0%

Ameriprise Financial stock opened at $467.24 on Monday. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.68 and a current ratio of 0.66. The stock has a market capitalization of $42.60 billion, a P/E ratio of 11.62, a PEG ratio of 1.12 and a beta of 1.20. The stock has a 50-day simple moving average of $454.79 and a 200 day simple moving average of $474.05.

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 analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the company posted $9.50 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post 41.87 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be issued a dividend of $1.70 per share. The ex-dividend date is Monday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio is 15.92%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several analyst reports. BMO Capital Markets raised their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating for the company. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Jefferies Financial Group lifted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $542.00.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 16,658 shares of company stock worth $8,998,675. Company insiders own 0.60% of the company’s stock.

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.