Crestwood Advisors Group LLC Acquires 1,301 Shares of Ameriprise Financial, Inc. $AMP

Crestwood Advisors Group LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 317.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,711 shares of the financial services provider’s stock after buying an additional 1,301 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Ameriprise Financial were worth $839,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. PFG Investments LLC increased its holdings in Ameriprise Financial by 1.4% during the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. increased its holdings in Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 21 shares during the period. EPG Wealth Management LLC increased its holdings in Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 21 shares during the period. UMB Bank n.a. increased its holdings in Ameriprise Financial by 0.8% during the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock worth $1,504,000 after purchasing an additional 23 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Ameriprise Financial by 5.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 23 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer directly owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AMP shares. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Morgan Stanley raised their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. BMO Capital Markets raised their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $543.22.

Ameriprise Financial Trading Up 1.4%

Shares of NYSE:AMP opened at $465.09 on Friday. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $550.18. The business’s fifty day simple moving average is $455.15 and its 200-day simple moving average is $473.98. The company has a market capitalization of $42.41 billion, a PE ratio of 11.57, a P/E/G ratio of 1.10 and a beta of 1.20. The company has a current ratio of 0.66, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results 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 return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the business posted $9.50 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 42.44 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be issued a $1.70 dividend. The ex-dividend date is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is 16.91%.

Ameriprise Financial Company Profile

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.