Ballentine Partners LLC Has $724,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Ballentine Partners LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,651 shares of the financial services provider’s stock after buying an additional 42 shares during the quarter. Ballentine Partners LLC’s holdings in Ameriprise Financial were worth $724,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aua Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 4.7% during the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 27 shares in the last quarter. &PARTNERS lifted its holdings in shares of Ameriprise Financial by 12.6% during the 1st quarter. &PARTNERS now owns 2,277 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 254 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of Ameriprise Financial by 0.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 8,600 shares of the financial services provider’s stock valued at $3,770,000 after purchasing an additional 54 shares in the last quarter. BTC Capital Management Inc. bought a new position in shares of Ameriprise Financial during the 1st quarter valued at about $5,782,000. Finally, Park Avenue Securities LLC lifted its holdings in shares of Ameriprise Financial by 2.0% during the 1st quarter. Park Avenue Securities LLC now owns 20,903 shares of the financial services provider’s stock valued at $9,164,000 after purchasing an additional 409 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.4 %

Shares of Ameriprise Financial stock traded up $1.55 on Monday, reaching $442.43. 6,464 shares of the company were exchanged, compared to its average volume of 473,436. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $444.99. The company has a market capitalization of $43.94 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.75 and a beta of 1.36. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average of $426.52 and a 200 day moving average of $408.39.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the business posted $7.25 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm 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 positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.34%. Ameriprise Financial’s payout ratio is presently 20.15%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,376 shares of company stock valued at $1,476,274. 0.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent analyst reports. Piper Sandler lifted their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Morgan Stanley boosted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Evercore ISI boosted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $450.88.

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.