Blue Barn Wealth LLC Makes New $212,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Blue Barn Wealth LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 398 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other hedge funds have also recently made changes to their positions in AMP. Raymond James Financial Inc. bought a new position in Ameriprise Financial during the 4th quarter worth about $108,620,000. Promus Capital LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at approximately $47,000. Proficio Capital Partners LLC raised its holdings in shares of Ameriprise Financial by 49.8% in the fourth quarter. Proficio Capital Partners LLC now owns 698 shares of the financial services provider’s stock worth $372,000 after buying an additional 232 shares during the last quarter. Atria Investments Inc lifted its position in Ameriprise Financial by 7.3% during the 4th quarter. Atria Investments Inc now owns 15,960 shares of the financial services provider’s stock worth $8,498,000 after acquiring an additional 1,084 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of Ameriprise Financial by 2.3% during the fourth quarter. Assetmark Inc. now owns 1,766 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 40 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $509.57 on Thursday. The company’s 50 day simple moving average is $538.39 and its 200 day simple moving average is $516.69. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a market capitalization of $48.98 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last announced 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 net margin of 19.70% and a return on equity of 69.35%. On average, sell-side analysts predict 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. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.16%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the business’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 value of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMP has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $514.89.

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.