Founders Financial Securities LLC Invests $206,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Founders Financial Securities LLC acquired a new position 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 and Exchange Commission (SEC). The fund acquired 470 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently modified their holdings of AMP. Norges Bank purchased a new position in shares of Ameriprise Financial during the fourth quarter worth about $514,539,000. First Trust Advisors LP boosted its stake in Ameriprise Financial by 1,001.2% in the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after buying an additional 512,884 shares in the last quarter. TD Asset Management Inc boosted its stake in Ameriprise Financial by 151.5% in the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after buying an additional 358,780 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Ameriprise Financial by 104.7% in the fourth quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock worth $145,183,000 after buying an additional 195,475 shares in the last quarter. Finally, Gillson Capital LP purchased a new stake in Ameriprise Financial in the fourth quarter worth approximately $47,511,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial 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 value of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $427.19 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $42.43 billion, a PE ratio of 14.54, a P/E/G ratio of 0.73 and a beta of 1.36. The business has a 50 day moving average of $428.66 and a 200 day moving average of $410.88. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $446.32.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.25 earnings per share. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a $1.48 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMP shares. Evercore ISI upped their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Raymond James started coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Argus upped their target price on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Morgan Stanley increased their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler dropped their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $456.22.

About Ameriprise Financial

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.