Brooklyn FI LLC Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Brooklyn FI LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,240 shares of the financial services provider's stock, valued at approximately $1,195,000.

Other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its position in shares of Ameriprise Financial by 79,679.4% during the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock valued at $197,943,000 after buying an additional 371,306 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after acquiring an additional 358,699 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after acquiring an additional 338,298 shares in the last quarter. Amundi grew its holdings in Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after purchasing an additional 208,195 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Ameriprise Financial in the fourth quarter worth $108,620,000. Institutional investors own 83.95% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. 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 report on Monday, February 3rd. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Finally, UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $514.89.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was 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 in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. 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. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

NYSE AMP traded up $16.18 on Monday, hitting $508.82. 448,252 shares of the company's stock traded hands, compared to its average volume of 459,081. The firm's 50-day moving average price is $528.03 and its two-hundred day moving average price is $521.34. The firm has a market capitalization of $48.91 billion, a PE ratio of 15.39, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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%. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is 17.91%.

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.