Wealthstar Advisors LLC Invests $210,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Wealthstar Advisors LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 479 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Gotham Asset Management LLC grew its stake in shares of Ameriprise Financial by 12.3% during the 3rd quarter. Gotham Asset Management LLC now owns 1,096 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 120 shares during the period. AQR Capital Management LLC boosted its stake in Ameriprise Financial by 3.8% in the 3rd quarter. AQR Capital Management LLC now owns 62,243 shares of the financial services provider’s stock worth $20,520,000 after purchasing an additional 2,274 shares during the period. Lido Advisors LLC boosted its stake in Ameriprise Financial by 287.2% in the 3rd quarter. Lido Advisors LLC now owns 22,187 shares of the financial services provider’s stock worth $7,315,000 after purchasing an additional 16,457 shares during the period. Seven Eight Capital LP boosted its stake in Ameriprise Financial by 33.0% in the 3rd quarter. Seven Eight Capital LP now owns 3,641 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 903 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in Ameriprise Financial by 14.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 39,602 shares of the financial services provider’s stock worth $13,060,000 after purchasing an additional 4,850 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the 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 directly owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Trading Up 0.0 %

AMP stock traded up $0.13 during trading on Thursday, hitting $434.00. 182,915 shares of the company traded hands, compared to its average volume of 432,379. The firm has a market capitalization of $43.10 billion, a PE ratio of 14.77, a P/E/G ratio of 0.74 and a beta of 1.37. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $446.32. The company has a 50-day moving average of $429.29 and a 200-day moving average of $411.59. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion during 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%. Ameriprise Financial’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $7.25 EPS. Analysts predict that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.36%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Analyst Ratings Changes

AMP has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Morgan Stanley raised their price target 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. Argus lifted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Keefe, Bruyette & Woods increased 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. Finally, Jefferies Financial Group increased their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $456.22.

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.