Keystone Financial Group Invests $398,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Keystone Financial Group bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 756 shares of the financial services provider's stock, valued at approximately $398,000.

A number of other hedge funds have also recently made changes to their positions in AMP. Cerro Pacific Wealth Advisors LLC increased its position in 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 valued at $307,000 after purchasing an additional 19 shares during the period. SRS Capital Advisors Inc. raised its holdings in Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock worth $37,000 after purchasing an additional 20 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of Ameriprise Financial by 0.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after buying an additional 20 shares in the last quarter. Dakota Wealth Management boosted its stake in Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after acquiring an additional 21 shares in the last quarter. Finally, Abel Hall LLC grew its holdings in Ameriprise Financial by 4.2% in the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock worth $275,000 after purchasing an additional 21 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Up 0.3 %

NYSE:AMP traded up $1.35 during trading hours on Friday, reaching $464.57. 492,165 shares of the stock were exchanged, compared to its average volume of 495,279. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $44.65 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The business has a 50-day moving average of $494.40 and a two-hundred day moving average of $522.65.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS 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%. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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

Analyst Ratings Changes

AMP has been the topic of a number of research analyst reports. UBS Group lowered 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. Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research report on Monday, April 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of "Hold" and an average target price of $517.44.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 14,023 shares of the company's stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 in the last quarter. 0.73% of the stock is owned by company insiders.

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.