Avestar Capital LLC Takes $347,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Avestar Capital LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 652 shares of the financial services provider's stock, valued at approximately $347,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Geller Advisors LLC raised its position in shares of Ameriprise Financial by 2.2% during the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock worth $412,000 after acquiring an additional 19 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its position in shares of Ameriprise Financial by 3.4% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock worth $307,000 after acquiring an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its position in shares of Ameriprise Financial by 2.0% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock worth $480,000 after acquiring an additional 20 shares in the last quarter. Dakota Wealth Management grew its stake in Ameriprise Financial by 2.7% during the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock worth $425,000 after buying an additional 21 shares during the last quarter. Finally, Abel Hall LLC grew its stake in Ameriprise Financial by 4.2% during the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock worth $275,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

Shares of AMP stock traded up $0.22 during midday trading on Tuesday, hitting $546.15. The company had a trading volume of 225,125 shares, compared to its average volume of 547,299. The company's 50 day simple moving average is $541.06 and its 200 day simple moving average is $507.16. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The stock has a market cap of $52.98 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 6th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing 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 that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler raised their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised 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. Royal Bank of Canada restated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of "Hold" and a consensus price target of $510.44.

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.