Fifth Third Wealth Advisors LLC Buys 359 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Fifth Third Wealth Advisors LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 19.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,234 shares of the financial services provider’s stock after purchasing an additional 359 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in AMP. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 1st quarter worth about $32,000. Turtle Creek Wealth Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $34,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $34,000. Fortitude Family Office LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $39,000. Finally, American National Bank boosted its position in shares of Ameriprise Financial by 116.3% during the 1st quarter. American National Bank now owns 106 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.7 %

Ameriprise Financial stock traded down $3.15 during trading hours on Friday, reaching $427.19. The company had a trading volume of 1,189,419 shares, compared to its average volume of 480,526. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $446.32. The firm has a market cap of $42.43 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 0.74 and a beta of 1.36. The company has a 50-day moving average price of $428.10 and a 200 day moving average price of $409.75.

Ameriprise Financial (NYSE:AMP) last posted its earnings results 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. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm earned $7.25 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. Equities analysts forecast that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

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

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMP. Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday. The Goldman Sachs Group boosted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Raymond James assumed coverage on Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating for the company. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $456.22.

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.