FORVIS Wealth Advisors LLC Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

FORVIS Wealth Advisors LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,217 shares of the financial services provider’s stock after selling 93 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $2,287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial in the 1st quarter valued at approximately $28,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at $32,000. Annapolis Financial Services LLC raised its holdings in shares of Ameriprise Financial by 928.6% in the 1st 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 in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $34,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Ameriprise Financial during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded down $4.02 on Friday, hitting $429.98. The company’s stock had a trading volume of 6,880 shares, compared to its average volume of 474,846. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $446.32. The company has a market capitalization of $42.71 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.74 and a beta of 1.37. 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 stock has a 50 day moving average of $430.18 and a 200-day moving average of $411.90.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.25 earnings per share. As a group, research analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were paid a dividend of $1.48 per share. This is an increase 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 dividend yield of 1.38%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Royal Bank of Canada lifted their price target 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. Jefferies Financial Group lifted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group lifted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Piper Sandler decreased their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Finally, Evercore ISI boosted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $456.22.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’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 transaction, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company’s stock.

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.