Congress Wealth Management LLC DE Has $2.74 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Congress Wealth Management LLC DE boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,139 shares of the financial services provider’s stock after purchasing an additional 447 shares during the period. Congress Wealth Management LLC DE’s holdings in Ameriprise Financial were worth $2,737,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in shares of Ameriprise Financial by 33.2% in the 4th quarter. LPL Financial LLC now owns 71,685 shares of the financial services provider’s stock valued at $38,167,000 after purchasing an additional 17,875 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Ameriprise Financial during the 4th quarter valued at about $17,793,000. Knights of Columbus Asset Advisors LLC boosted its position in Ameriprise Financial by 2.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 20,266 shares of the financial services provider’s stock valued at $10,790,000 after buying an additional 519 shares in the last quarter. Sei Investments Co. boosted its position in Ameriprise Financial by 3.4% in the fourth quarter. Sei Investments Co. now owns 245,167 shares of the financial services provider’s stock valued at $130,531,000 after buying an additional 8,052 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Ameriprise Financial by 0.7% during the fourth quarter. American Century Companies Inc. now owns 212,277 shares of the financial services provider’s stock worth $113,023,000 after buying an additional 1,485 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $514.89.

Insider Activity

In related news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 in the last 90 days. 0.96% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $505.15 on Thursday. The firm has a market cap of $48.55 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $526.91 and a 200 day moving average price of $522.28.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

About Ameriprise Financial

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.