Aspiriant LLC Raises Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Aspiriant LLC increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 16.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 946 shares of the financial services provider’s stock after buying an additional 135 shares during the quarter. Aspiriant LLC’s holdings in Ameriprise Financial were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in Ameriprise Financial in the third quarter valued at about $1,150,000. LPL Financial LLC raised its position in Ameriprise Financial by 13.3% in the third quarter. LPL Financial LLC now owns 39,255 shares of the financial services provider’s stock valued at $12,941,000 after purchasing an additional 4,593 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Ameriprise Financial in the third quarter valued at about $1,254,000. Eagle Asset Management Inc. raised its position in Ameriprise Financial by 1.8% in the third quarter. Eagle Asset Management Inc. now owns 9,377 shares of the financial services provider’s stock valued at $3,091,000 after purchasing an additional 170 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of Ameriprise Financial by 8.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 21,964 shares of the financial services provider’s stock valued at $7,241,000 after acquiring an additional 1,671 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

AMP opened at $430.21 on Friday. The business’s 50 day moving average is $428.10 and its 200-day moving average is $409.75. The stock has a market cap of $42.73 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. 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 twelve month low of $306.63 and a twelve month high of $446.32.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.25 earnings per share. On average, analysts predict that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is 20.15%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMP. Raymond James began coverage on Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating for the company. Argus raised their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. The Goldman Sachs Group raised their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler lifted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $450.88.

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.