MorganRosel Wealth Management LLC Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

MorganRosel Wealth Management LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,896 shares of the financial services provider’s stock after selling 27 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in Ameriprise Financial were worth $831,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LPL Financial LLC grew its holdings in shares of 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. Trexquant Investment LP grew its holdings in shares of Ameriprise Financial by 247.4% in the third quarter. Trexquant Investment LP now owns 10,424 shares of the financial services provider’s stock valued at $3,437,000 after purchasing an additional 7,423 shares during the period. Bank of Nova Scotia grew its holdings in shares of Ameriprise Financial by 23.5% in the third quarter. Bank of Nova Scotia now owns 12,432 shares of the financial services provider’s stock valued at $4,098,000 after purchasing an additional 2,362 shares during the period. Gotham Asset Management LLC grew its holdings in shares of Ameriprise Financial by 12.3% in the third quarter. Gotham Asset Management LLC now owns 1,096 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 120 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Ameriprise Financial by 123.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 44,160 shares of the financial services provider’s stock worth $14,559,000 after buying an additional 24,433 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.7 %

Shares of NYSE:AMP opened at $427.19 on Monday. The firm’s 50 day moving average price is $428.66 and its 200 day moving average price is $410.88. The stock has a market cap of $42.43 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a fifty-two week low of $306.63 and a fifty-two week high of $446.32. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion for 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 firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $7.25 earnings per share. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were 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 of the company’s stock, valued at $4,818,770. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMP shares. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group increased their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Piper Sandler lowered their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $456.22.

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.