PFG Investments LLC Purchases Shares of 1,295 Ameriprise Financial, Inc. (NYSE:AMP)

PFG Investments LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,295 shares of the financial services provider’s stock, valued at approximately $568,000.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Ameriprise Financial during the third quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial during the first quarter valued at about $28,000. Carmel Capital Partners LLC bought a new stake in Ameriprise Financial during the third quarter valued at about $30,000. Sound Income Strategies LLC bought a new stake in Ameriprise Financial during the first quarter valued at about $32,000. Finally, Annapolis Financial Services LLC grew its holdings in Ameriprise Financial by 928.6% during the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 65 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Gumer Alvero sold 1,652 shares of the 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 $3,056,378. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders have sold a total of 74,326 shares of company stock worth $29,775,593 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMP. The Goldman Sachs Group upped their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler upped their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. UBS Group upped their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $449.57.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $6.34 during mid-day trading on Monday, reaching $416.35. The stock had a trading volume of 395,381 shares, compared to its average volume of 502,805. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $41.71 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 0.70 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The business’s 50 day moving average price is $419.02 and its 200 day moving average price is $382.14.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the business earned $7.25 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts expect that Ameriprise Financial, Inc. will post 34.65 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders 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 dividend on an annualized basis and a yield of 1.42%. Ameriprise Financial’s dividend payout ratio is 18.38%.

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.