Financial Perspectives Inc Increases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Financial Perspectives Inc lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 146.0% during the fourth quarter, Holdings Channel reports. The fund owned 337 shares of the financial services provider’s stock after acquiring an additional 200 shares during the period. Financial Perspectives Inc’s holdings in Ameriprise Financial were worth $180,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMP. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth $30,000. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial during the third quarter worth $31,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth $36,000. Golden State Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth $38,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Ameriprise Financial during the third quarter worth $45,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of analyst reports. Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price 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 lowered their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted 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 note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $510.44.

Ameriprise Financial Trading Up 0.1 %

Shares of Ameriprise Financial stock opened at $546.48 on Wednesday. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The stock has a market cap of $53.01 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The company has a 50-day moving average of $541.06 and a two-hundred day moving average of $507.16.

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

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. 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%.

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.