Polymer Capital Management US LLC Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Polymer Capital Management US LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,550 shares of the financial services provider’s stock, valued at approximately $825,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. TCTC Holdings LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial during the 4th quarter valued at about $30,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target 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. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler raised their price target 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. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $514.89.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

AMP opened at $421.61 on Monday. 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. The company has a market cap of $40.52 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.15 and a beta of 1.23. The firm’s fifty day simple moving average is $515.46 and its two-hundred day simple moving average is $524.51.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, February 10th. 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.