88 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by Millstone Evans Group LLC

Millstone Evans Group LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 88 shares of the financial services provider’s stock, valued at approximately $47,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMP. TCTC Holdings LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the fourth quarter worth approximately $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada reaffirmed 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 cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their target price 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. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler increased 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $514.89.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

Shares of AMP opened at $493.41 on Monday. The stock has a 50-day moving average of $528.03 and a two-hundred day moving average of $521.34. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year 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 stock has a market cap of $47.43 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last issued its quarterly 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 return on equity of 69.35% and a net margin of 19.70%. As a group, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 dividend on an annualized basis and a yield of 1.20%. Ameriprise Financial’s dividend payout ratio is currently 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.