Legacy Capital Wealth Partners LLC Has $301,000 Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Legacy Capital Wealth Partners LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 792 shares of the financial services provider’s stock after buying an additional 101 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Ameriprise Financial were worth $301,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new position in Ameriprise Financial during the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at $34,000. Carmel Capital Partners LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $30,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $34,000. Finally, Fortitude Family Office LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $39,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the subject of several recent analyst reports. Piper Sandler upped their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. UBS Group upped their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Evercore ISI upped their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $449.57.

Insider Activity

In related news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $2,485,474.29. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $2,485,474.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 8,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now directly owns 13,134 shares in the company, valued at $5,411,864.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,326 shares of company stock worth $29,775,593. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $416.35 on Tuesday. 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 company has a market cap of $41.71 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.70 and a beta of 1.36. The firm has a fifty day moving average price of $419.02 and a two-hundred day moving average price of $382.14. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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 business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the business earned $7.25 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post 34.65 EPS for the current 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 1.42%. The ex-dividend date is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is presently 18.38%.

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.