HighTower Advisors LLC Has $23.91 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

HighTower Advisors LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,906 shares of the financial services provider's stock after buying an additional 1,532 shares during the quarter. HighTower Advisors LLC's holdings in Ameriprise Financial were worth $23,909,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial in the fourth quarter worth approximately $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the fourth quarter worth $30,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $36,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company's 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 transaction, the director now directly owns 10,000 shares of the company's stock, valued at $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. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 in the last ninety days. Corporate insiders own 0.73% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of analysts have issued reports on AMP shares. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods boosted their price target on shares of 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 lowered 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 research note on Monday, January 6th. 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 restated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $514.89.

Ameriprise Financial Trading Up 2.1 %

AMP stock traded up $10.10 on Wednesday, hitting $499.03. 366,266 shares of the company were exchanged, compared to its average volume of 457,327. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The business's fifty day moving average is $530.03 and its two-hundred day moving average is $520.27. The stock has a market capitalization of $47.97 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

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 net margin of 19.70% and a return on equity of 69.35%. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio is currently 17.91%.

About Ameriprise Financial

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.