Quadrant Private Wealth Management LLC Invests $227,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Quadrant Private Wealth Management LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 426 shares of the financial services provider’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. JPMorgan Chase & Co. increased its stake in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after acquiring an additional 338,298 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Ameriprise Financial by 816.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock worth $116,698,000 after acquiring an additional 195,271 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after acquiring an additional 143,648 shares during the last quarter. Finally, Maj Invest Holding A S boosted its position in shares of Ameriprise Financial by 67.5% during the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock worth $187,466,000 after acquiring an additional 141,927 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $510.44.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $546.69 on Friday. The company has a fifty day simple moving average of $541.20 and a two-hundred day simple moving average of $505.21. The firm has a market capitalization of $53.03 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Ameriprise Financial 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.