RWA Wealth Partners LLC Grows Stake in Ameriprise Financial, Inc. (NYSE:AMP)

RWA Wealth Partners LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 77.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,370 shares of the financial services provider’s stock after buying an additional 1,913 shares during the period. RWA Wealth Partners LLC’s holdings in Ameriprise Financial were worth $1,660,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $25,000. Carmel Capital Partners LLC bought a new stake in Ameriprise Financial in the third quarter valued at $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at $34,000. Wetzel Investment Advisors Inc. bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $34,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $407.27 on Wednesday. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $40.80 billion, a P/E ratio of 17.18, a PEG ratio of 0.69 and a beta of 1.36. The stock has a fifty day moving average of $417.72 and a 200-day moving average of $379.75.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Tuesday, April 23rd. 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 firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $7.25 EPS. Equities analysts forecast that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a $1.48 dividend. The ex-dividend date is Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.45%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

Insiders Place Their Bets

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares in the company, valued at $4,731,807.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,161 shares of company stock worth $35,560,647. Insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of several recent analyst reports. Morgan Stanley upped 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 report on Tuesday, April 9th. Piper Sandler raised their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Raymond James started coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, UBS Group increased their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $441.00.

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.