Apollon Wealth Management LLC Purchases 95 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Apollon Wealth Management LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,119 shares of the financial services provider’s stock after purchasing an additional 95 shares during the period. Apollon Wealth Management LLC’s holdings in Ameriprise Financial were worth $2,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of AMP. Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $31,000. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $36,000. Golden State Wealth Management LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth $38,000. Peterson Financial Group Inc. bought a new stake in shares of Ameriprise Financial during the third quarter worth $45,000. Finally, Albion Financial Group UT purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.6 %

Shares of NYSE:AMP opened at $538.59 on Monday. The company has a market capitalization of $52.25 billion, a PE ratio of 16.29, a P/E/G ratio of 1.18 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The business’s fifty day simple moving average is $544.14 and its 200-day simple moving average is $502.20.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $510.44.

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.