Redmont Wealth Advisors LLC Buys Shares of 65 Ameriprise Financial, Inc. (NYSE:AMP)

Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 65 shares of the financial services provider’s stock, valued at approximately $28,000.

A number of other large investors have also recently bought and sold shares of the stock. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth $32,000. Annapolis Financial Services LLC lifted its stake in shares of Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 65 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $34,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $34,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $39,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of several research reports. Argus increased their target price on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Evercore ISI increased their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group increased their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Morgan Stanley increased their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Raymond James initiated coverage on Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $456.22.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was 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 $4,818,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Up 0.0 %

Shares of NYSE AMP opened at $434.00 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $446.32. The company has a market cap of $43.10 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.74 and a beta of 1.37. 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 stock has a fifty day moving average price of $429.29 and a 200 day moving average price of $411.59.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $7.25 earnings per share. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were paid a dividend of $1.48 per share. The ex-dividend date was Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Ameriprise Financial Company 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.