Everpar Advisors LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Everpar Advisors LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,955 shares of the financial services provider’s stock, valued at approximately $1,122,000.

Other large investors have also recently made changes to their positions in the company. Pacific Capital Wealth Advisors Inc. purchased a new stake in Ameriprise Financial during the 4th quarter worth about $51,000. Peddock Capital Advisors LLC lifted its stake in Ameriprise Financial by 1.8% during the fourth quarter. Peddock Capital Advisors LLC now owns 4,592 shares of the financial services provider’s stock worth $1,744,000 after purchasing an additional 81 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ameriprise Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 584,707 shares of the financial services provider’s stock valued at $222,089,000 after purchasing an additional 4,811 shares in the last quarter. Apollon Wealth Management LLC increased its stake in Ameriprise Financial by 46.4% in the fourth quarter. Apollon Wealth Management LLC now owns 4,956 shares of the financial services provider’s stock valued at $1,882,000 after purchasing an additional 1,570 shares during the last quarter. Finally, Lincoln National Corp raised its holdings in Ameriprise Financial by 35.8% during the fourth quarter. Lincoln National Corp now owns 2,588 shares of the financial services provider’s stock worth $983,000 after purchasing an additional 682 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

AMP traded up $1.07 during trading on Wednesday, hitting $425.94. The stock had a trading volume of 338,630 shares, compared to its average volume of 494,155. Ameriprise Financial, Inc. has a twelve month low of $286.58 and a twelve month high of $440.67. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The company’s 50-day moving average price is $420.85 and its 200 day moving average price is $386.14. The firm has a market capitalization of $42.67 billion, a P/E ratio of 14.50, a PEG ratio of 0.71 and a beta of 1.35.

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, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. Ameriprise Financial’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.25 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.39%. Ameriprise Financial’s payout ratio is 20.15%.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the transaction, the chief executive officer now owns 13,134 shares in the company, valued at $5,411,864.70. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO James M. Cracchiolo sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $401.48, for a total value of $4,817,760.00. Following the sale, the chief executive officer now owns 169,012 shares of the company’s stock, valued at approximately $67,854,937.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 8,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now owns 13,134 shares in the company, valued at approximately $5,411,864.70. The disclosure for this sale can be found here. Insiders have sold a total of 56,980 shares of company stock worth $23,053,480 in the last quarter. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of several research analyst reports. Argus upped their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler raised their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley raised their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada boosted their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $450.88.

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.