Wesbanco Bank Inc. Acquires 105 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Wesbanco Bank Inc. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,169 shares of the financial services provider’s stock after acquiring an additional 105 shares during the period. Wesbanco Bank Inc.’s holdings in Ameriprise Financial were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AMP. Retirement Group LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at about $25,000. DiNuzzo Private Wealth Inc. raised its holdings in Ameriprise Financial by 268.8% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial during the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the first quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC grew its position in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler reduced 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 report on Friday, June 28th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $473.56.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $517.46 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a market cap of $51.40 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The company has a 50 day moving average of $452.81 and a 200-day moving average of $435.99. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $518.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the company earned $7.44 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.73% of the company’s stock.

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.