Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by IMA Wealth Inc.

IMA Wealth Inc. lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,660 shares of the financial services provider’s stock after selling 933 shares during the period. Ameriprise Financial makes up approximately 1.5% of IMA Wealth Inc.’s portfolio, making the stock its 23rd biggest holding. IMA Wealth Inc.’s holdings in Ameriprise Financial were worth $2,909,000 as of its most recent SEC filing.

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

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded down $0.90 on Friday, hitting $410.01. The company had a trading volume of 454,209 shares, compared to its average volume of 517,879. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 52-week low of $279.85 and a 52-week high of $440.67. The business has a 50 day moving average of $418.65 and a 200 day moving average of $380.77. The company has a market cap of $41.08 billion, a PE ratio of 13.95, a PEG ratio of 0.70 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its earnings results 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 return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the business posted $7.25 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 34.65 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a dividend of $1.48 per share. The ex-dividend date is Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.44%. Ameriprise Financial’s dividend payout ratio is 18.38%.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now directly owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 2,493 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $401.11, for a total transaction of $999,967.23. Following the completion of the sale, the chief executive officer now directly owns 196,598 shares in the company, valued at $78,857,423.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction dated 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 owns 6,994 shares of the company’s stock, valued at $3,056,378. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,472 shares of company stock worth $31,779,805. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group boosted their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Piper Sandler boosted their target price on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. Evercore ISI boosted 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 began coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group upped their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $449.57.

Ameriprise Financial 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.