HighTower Advisors LLC Has $21.59 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

HighTower Advisors LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,039 shares of the financial services provider’s stock after selling 1,615 shares during the period. HighTower Advisors LLC’s holdings in Ameriprise Financial were worth $21,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $30,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth $32,000. Ares Financial Consulting LLC acquired a new stake in Ameriprise Financial during the fourth quarter valued at $32,000. WFA of San Diego LLC acquired a new stake in Ameriprise Financial during the second quarter valued at $36,000. Finally, Activest Wealth Management boosted its position in Ameriprise Financial by 777.8% during the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $453.23 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The business has a 50-day moving average of $454.35 and a two-hundred day moving average of $473.27. The stock has a market capitalization of $40.74 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.07 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the firm earned $9.50 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. The ex-dividend date was Monday, May 4th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMP. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Piper Sandler lifted their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. BMO Capital Markets lifted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Finally, Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $543.22.

Insider Transactions at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.