Revolve Wealth Partners LLC Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Revolve Wealth Partners LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 465 shares of the financial services provider’s stock, valued at approximately $204,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Aua Capital Management LLC raised its position in Ameriprise Financial by 4.7% in the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 27 shares during the period. Meeder Advisory Services Inc. raised its position in Ameriprise Financial by 1.1% in the fourth quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock worth $1,128,000 after acquiring an additional 31 shares during the period. Fidelis Capital Partners LLC raised its position in Ameriprise Financial by 5.1% in the fourth quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 32 shares during the period. Signaturefd LLC increased its stake in shares of Ameriprise Financial by 1.4% in the fourth quarter. Signaturefd LLC now owns 2,270 shares of the financial services provider’s stock worth $862,000 after purchasing an additional 32 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Ameriprise Financial by 1.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.8 %

Shares of Ameriprise Financial stock opened at $430.21 on Friday. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $446.32. The firm has a market cap of $42.73 billion, a PE ratio of 14.64, a PEG ratio of 0.75 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The company has a 50 day simple moving average of $428.10 and a two-hundred day simple moving average of $409.75.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $7.25 EPS. Analysts expect that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s payout ratio is presently 20.15%.

Wall Street Analyst Weigh In

AMP has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Argus boosted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, Raymond James assumed coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $450.88.

Insider Activity at Ameriprise Financial

In related news, 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by company insiders.

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.