Procyon Advisors LLC Purchases 175 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Procyon Advisors LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,573 shares of the financial services provider’s stock after purchasing an additional 175 shares during the quarter. Procyon Advisors LLC’s holdings in Ameriprise Financial were worth $2,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aua Capital Management LLC grew its stake in Ameriprise Financial by 4.7% during the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 27 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Ameriprise Financial by 1.1% during the 4th quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock worth $1,128,000 after acquiring an additional 31 shares in the last quarter. Fidelis Capital Partners LLC boosted its position 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 valued at $249,000 after acquiring an additional 32 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Ameriprise Financial by 1.4% in the fourth quarter. Signaturefd LLC now owns 2,270 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 32 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Ameriprise Financial by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock worth $827,000 after buying an additional 33 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

AMP opened at $430.21 on Friday. The firm has a market capitalization of $42.73 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50-day moving average is $428.10 and its two-hundred day moving average is $409.75. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $446.32.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company posted $7.25 earnings per share. Ameriprise Financial’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a dividend of $1.48 per share. The ex-dividend date was Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.38%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is 20.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Raymond James assumed coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Evercore ISI raised their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group raised their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Finally, Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $450.88.

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.