Wealth Enhancement Advisory Services LLC Raises Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Wealth Enhancement Advisory Services LLC raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.2% during the first quarter, HoldingsChannel reports. The firm owned 23,837 shares of the financial services provider’s stock after purchasing an additional 53 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Ameriprise Financial were worth $10,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. Procyon Advisors LLC increased its holdings in shares of Ameriprise Financial by 3.2% in the first quarter. Procyon Advisors LLC now owns 5,573 shares of the financial services provider’s stock valued at $2,443,000 after purchasing an additional 175 shares during the last quarter. Signet Financial Management LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter worth $3,177,000. Revolve Wealth Partners LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter valued at about $204,000. Aspiriant LLC grew its holdings in shares of Ameriprise Financial by 16.6% in the first quarter. Aspiriant LLC now owns 946 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 135 shares during the period. Finally, Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the first quarter valued at about $32,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Raymond James initiated coverage on Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating for the company. Evercore ISI lifted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Jefferies Financial Group increased their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday. Finally, Argus boosted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $456.22.

Ameriprise Financial Stock Performance

NYSE AMP opened at $427.19 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $42.43 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.73 and a beta of 1.36. The stock has a 50-day moving average of $428.66 and a two-hundred day moving average of $410.60. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $446.32.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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 firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.25 earnings per share. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 34.95 EPS 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 paid a $1.48 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

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.