Havemeyer Place LP Invests $836,000 in Ameriprise Financial, Inc. $AMP

Havemeyer Place LP purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,705 shares of the financial services provider’s stock, valued at approximately $836,000.

Other hedge funds have also added to or reduced their stakes in the company. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $30,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial in the third quarter worth $32,000. Ares Financial Consulting LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $32,000. WFA of San Diego LLC bought a new stake in Ameriprise Financial in the second quarter worth $36,000. Finally, Activest Wealth Management lifted its stake in Ameriprise Financial by 777.8% in the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 70 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

AMP stock opened at $448.83 on Tuesday. The firm’s 50-day moving average price is $455.94 and its two-hundred day moving average price is $472.75. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $550.18. The stock has a market capitalization of $40.35 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.07 and a beta of 1.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the company earned $9.50 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a $1.70 dividend. The ex-dividend date was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Analyst Ratings Changes

Several research firms have weighed in on AMP. BMO Capital Markets boosted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Piper Sandler boosted their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $543.22.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.