Eley Financial Management Inc Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Eley Financial Management Inc decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,927 shares of the financial services provider’s stock after selling 198 shares during the period. Eley Financial Management Inc’s holdings in Ameriprise Financial were worth $1,871,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Signaturefd LLC increased its stake in shares of Ameriprise Financial by 1.4% during the third quarter. Signaturefd LLC now owns 2,238 shares of the financial services provider’s stock valued at $738,000 after purchasing an additional 31 shares in the last quarter. Meeder Advisory Services Inc. grew its position in Ameriprise Financial by 1.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 31 shares during the period. Fidelis Capital Partners LLC boosted its stake in shares of Ameriprise Financial by 5.1% during the 4th quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 32 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of Ameriprise Financial by 1.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 33 shares during the last quarter. Finally, CI Investments Inc. boosted its stake in shares of Ameriprise Financial by 2.6% during the 3rd quarter. CI Investments Inc. now owns 1,336 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.1 %

NYSE:AMP traded down $0.23 during midday trading on Friday, reaching $410.68. 124,202 shares of the stock traded hands, compared to its average volume of 499,709. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67. The business has a 50-day moving average of $418.41 and a two-hundred day moving average of $380.19. 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 stock has a market capitalization of $41.15 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. Ameriprise Financial’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.25 EPS. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 34.58 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $1.48 dividend. The ex-dividend date is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is presently 18.38%.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $2,485,474.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $2,485,474.29. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James M. Cracchiolo sold 12,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $401.48, for a total transaction of $4,817,760.00. Following the sale, the chief executive officer now owns 169,012 shares of the company’s stock, valued at $67,854,937.76. The disclosure for this sale can be found here. Insiders have sold 79,472 shares of company stock worth $31,779,805 over the last 90 days. 0.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of analyst reports. Evercore ISI lifted their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $449.57.

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.