Childress Capital Advisors LLC Acquires Shares of 349 Ameriprise Financial, Inc. (NYSE:AMP)

Childress Capital Advisors LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 349 shares of the financial services provider’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Norges Bank bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $262,604,000. Bank of New York Mellon Corp increased its position in shares of Ameriprise Financial by 34.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,757,131 shares of the financial services provider’s stock valued at $341,463,000 after buying an additional 453,520 shares during the period. Principal Financial Group Inc. increased its position in shares of Ameriprise Financial by 123.7% during the fourth quarter. Principal Financial Group Inc. now owns 632,140 shares of the financial services provider’s stock valued at $122,844,000 after buying an additional 349,559 shares during the period. Conning Inc. increased its position in shares of Ameriprise Financial by 10,301.8% in the fourth quarter. Conning Inc. now owns 207,307 shares of the financial services provider’s stock worth $40,286,000 after purchasing an additional 205,314 shares during the last quarter. Finally, Cibc World Markets Corp increased its position in shares of Ameriprise Financial by 436.7% in the fourth quarter. Cibc World Markets Corp now owns 226,714 shares of the financial services provider’s stock worth $44,057,000 after purchasing an additional 184,472 shares during the last quarter. Hedge funds and other institutional investors own 83.05% of the company’s stock.

Shares of AMP stock opened at $238.09 on Thursday. The stock has a fifty day moving average of $226.68 and a 200 day moving average of $195.71. Ameriprise Financial, Inc. has a 52 week low of $100.11 and a 52 week high of $240.52. The firm has a market capitalization of $27.76 billion, a price-to-earnings ratio of 17.06 and a beta of 1.74. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.78.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Tuesday, January 26th. The financial services provider reported $4.53 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $0.09. Ameriprise Financial had a return on equity of 33.79% and a net margin of 15.16%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $4.20 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 14.05 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Friday, February 12th were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $4.16 dividend on an annualized basis and a yield of 1.75%. Ameriprise Financial’s dividend payout ratio (DPR) is 25.84%.

Several research firms recently weighed in on AMP. Citigroup upped their price objective on shares of Ameriprise Financial from $245.00 to $265.00 in a research report on Wednesday, March 31st. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $220.00 to $212.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 1st. Piper Sandler upped their price objective on shares of Ameriprise Financial from $215.00 to $221.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 6th. Royal Bank of Canada upped their target price on Ameriprise Financial from $225.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, January 29th. Finally, Zacks Investment Research lowered Ameriprise Financial from a “buy” rating to a “hold” rating and set a $244.00 target price for the company. in a research note on Wednesday, March 31st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $213.27.

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 9,500 shares of the stock in a transaction on Thursday, February 11th. The stock was sold at an average price of $215.22, for a total value of $2,044,590.00. Following the completion of the transaction, the insider now owns 16,727 shares in the company, valued at $3,599,984.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Karen Wilson Thissen sold 1,307 shares of the stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $204.94, for a total value of $267,856.58. In the last quarter, insiders sold 87,932 shares of company stock valued at $18,164,517. 1.50% of the stock is owned by corporate insiders.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, through 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.

Read More: Marijuana Stocks

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.