Simplicity Wealth LLC Grows Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Simplicity Wealth LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 20.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,053 shares of the financial services provider’s stock after purchasing an additional 176 shares during the quarter. Simplicity Wealth LLC’s holdings in Ameriprise Financial were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $47,000. Atlantic Union Bankshares Corp lifted its stake in shares of Ameriprise Financial by 0.5% during the fourth quarter. Atlantic Union Bankshares Corp now owns 9,984 shares of the financial services provider’s stock worth $5,316,000 after buying an additional 52 shares during the period. Amundi lifted its stake in shares of Ameriprise Financial by 48.0% during the fourth quarter. Amundi now owns 642,226 shares of the financial services provider’s stock worth $343,546,000 after buying an additional 208,195 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $28,000. Finally, Banco Santander S.A. acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $988,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 over the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 3.9 %

AMP stock opened at $480.05 on Tuesday. The stock has a market capitalization of $46.14 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.15 and a beta of 1.33. The firm has a 50-day simple moving average of $535.84 and a 200-day simple moving average of $518.54. The company has a quick ratio of 0.59, 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 EPS for the quarter, topping 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%. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.23%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMP shares. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. 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. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $514.89.

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.