Alpha Paradigm Partners LLC Trims Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Posted by on Mar 15th, 2023

Alpha Paradigm Partners LLC lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 4.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,811 shares of the financial services provider’s stock after selling 82 shares during the period. Alpha Paradigm Partners LLC’s holdings in Ameriprise Financial were worth $456,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. raised its stake in Ameriprise Financial by 106.6% during the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock valued at $38,000 after buying an additional 65 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 3rd quarter valued at approximately $35,000. Vigilant Capital Management LLC increased its position in Ameriprise Financial by 120.3% in the 3rd quarter. Vigilant Capital Management LLC now owns 141 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 77 shares during the period. Fairfield Bush & CO. acquired a new stake in Ameriprise Financial in the 1st quarter valued at approximately $53,000. Finally, SeaCrest Wealth Management LLC bought a new position in Ameriprise Financial during the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $297.71 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.43. Ameriprise Financial, Inc. has a 1 year low of $219.99 and a 1 year high of $357.46. The business has a fifty day simple moving average of $337.06 and a 200 day simple moving average of $310.35. The firm has a market cap of $31.68 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.55 and a beta of 1.49.

Ameriprise Financial (NYSE:AMP – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.59. Ameriprise Financial had a return on equity of 70.64% and a net margin of 17.91%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company earned $6.15 earnings per share. Ameriprise Financial’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 30.69 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Friday, February 10th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.00 annualized dividend and a yield of 1.68%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.27%.

Insider Activity

In related news, insider Dawn M. Brockman sold 410 shares of Ameriprise Financial stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total transaction of $127,358.30. Following the sale, the insider now directly owns 875 shares of the company’s stock, valued at $271,801.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Ameriprise Financial news, EVP Heather J. Melloh sold 769 shares of Ameriprise Financial stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $352.87, for a total transaction of $271,357.03. Following the completion of the sale, the executive vice president now owns 3,033 shares of the company’s stock, valued at approximately $1,070,254.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dawn M. Brockman sold 410 shares of Ameriprise Financial stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total transaction of $127,358.30. Following the sale, the insider now directly owns 875 shares of the company’s stock, valued at approximately $271,801.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,738 shares of company stock valued at $26,606,004. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com raised Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 25th. The Goldman Sachs Group raised their price objective on Ameriprise Financial from $290.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 23rd. UBS Group raised their price objective on Ameriprise Financial from $355.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, January 9th. Argus raised their price objective on Ameriprise Financial from $340.00 to $392.00 in a research note on Tuesday, January 31st. Finally, Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $350.00 to $375.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $347.18.

Ameriprise Financial Company Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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