Strategic Financial Concepts LLC Buys Shares of 18,905 Ameriprise Financial, Inc. (NYSE:AMP)

Strategic Financial Concepts LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 18,905 shares of the financial services provider’s stock, valued at approximately $10,066,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Exchange Traded Concepts LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $108,000. Creative Planning increased its holdings in Ameriprise Financial by 1.6% in the third quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock valued at $10,604,000 after buying an additional 348 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Ameriprise Financial by 8.8% during the 3rd quarter. Global Retirement Partners LLC now owns 3,732 shares of the financial services provider’s stock worth $1,753,000 after buying an additional 301 shares during the last quarter. Bar Harbor Wealth Management acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $211,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Ameriprise Financial by 11.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,906 shares of the financial services provider’s stock worth $5,124,000 after acquiring an additional 1,159 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on 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 directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. UBS Group lowered 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 report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Trading Up 1.3 %

Shares of NYSE:AMP opened at $546.69 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $541.20 and its 200 day moving average price is $505.21. The company has a market cap of $53.03 billion, a PE ratio of 16.54, a P/E/G ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results 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%. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

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.