Greatmark Investment Partners Inc. Purchases 223 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Greatmark Investment Partners Inc. raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,598 shares of the financial services provider’s stock after purchasing an additional 223 shares during the quarter. Ameriprise Financial accounts for approximately 2.2% of Greatmark Investment Partners Inc.’s holdings, making the stock its 17th biggest position. Greatmark Investment Partners Inc.’s holdings in Ameriprise Financial were worth $13,901,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $25,000. Carmel Capital Partners LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $30,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at 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. Finally, Fortitude Family Office LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $39,000. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMP. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Morgan Stanley lifted their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. UBS Group lifted their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Piper Sandler lifted their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $449.57.

Ameriprise Financial Price Performance

NYSE AMP traded up $5.24 during trading hours on Monday, reaching $415.25. The company’s stock had a trading volume of 203,961 shares, compared to its average volume of 500,142. The firm’s 50-day moving average price is $418.65 and its 200-day moving average price is $381.50. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The company has a market capitalization of $41.60 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.70 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $7.25 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 34.65 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.43%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is 18.38%.

Insider Transactions at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gerard P. Smyth sold 4,440 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $407.92, for a total value of $1,811,164.80. Following the transaction, the executive vice president now directly owns 3,787 shares in the company, valued at approximately $1,544,793.04. The disclosure for this sale can be found here. Insiders have sold 74,326 shares of company stock valued at $29,775,593 in the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Company 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.