Coign Capital Advisors LLC Invests $332,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Coign Capital Advisors LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 623 shares of the financial services provider's stock, valued at approximately $332,000.

Several other institutional investors have also modified their holdings of AMP. Scotia Capital Inc. lifted its position in Ameriprise Financial by 263.5% in the fourth quarter. Scotia Capital Inc. now owns 1,585 shares of the financial services provider's stock worth $844,000 after buying an additional 1,149 shares during the last quarter. CenterBook Partners LP boosted its stake in shares of Ameriprise Financial by 14.0% during the 4th quarter. CenterBook Partners LP now owns 1,143 shares of the financial services provider's stock worth $609,000 after purchasing an additional 140 shares during the period. DRW Securities LLC bought a new stake in Ameriprise Financial in the fourth quarter worth about $290,000. Martingale Asset Management L P boosted its position in shares of Ameriprise Financial by 0.5% during the fourth quarter. Martingale Asset Management L P now owns 13,374 shares of the financial services provider's stock valued at $7,121,000 after buying an additional 65 shares during the period. Finally, APG Asset Management N.V. bought a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $27,457,000. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMP. Morgan Stanley raised 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. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods decreased their price objective on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Piper Sandler upped 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, Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $517.44.

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Ameriprise Financial Stock Down 2.5 %

Ameriprise Financial stock traded down $11.94 during mid-day trading on Wednesday, reaching $464.50. 189,231 shares of the company were exchanged, compared to its average volume of 560,089. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The business has a fifty day moving average of $498.48 and a 200 day moving average of $523.16. The firm has a market cap of $44.65 billion, a P/E ratio of 14.05, a PEG ratio of 1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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%. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. Ameriprise Financial's payout ratio is 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm's stock in a transaction on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 14,023 shares of the company's stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last three months. Corporate insiders own 0.73% of the company's stock.

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.