NewEdge Wealth LLC Purchases 178 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

NewEdge Wealth LLC lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,608 shares of the financial services provider’s stock after buying an additional 178 shares during the quarter. NewEdge Wealth LLC’s holdings in Ameriprise Financial were worth $1,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter valued at $30,000. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at $36,000. Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at $38,000. Peterson Financial Group Inc. bought a new position in shares of Ameriprise Financial in the third quarter valued at $45,000. Finally, Albion Financial Group UT bought a new position in Ameriprise Financial during the fourth quarter worth $46,000. 83.95% of the stock is owned by institutional investors.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 over the last quarter. 0.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective 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. Keefe, Bruyette & Woods lifted their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Up 2.2 %

AMP opened at $537.77 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $51.69 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.15 and a beta of 1.36. The stock has a fifty day moving average of $539.85 and a 200-day moving average of $514.85.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping 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%. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Ameriprise Financial Company 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.