Optimize Financial Inc Purchases Shares of 742 Ameriprise Financial, Inc. (NYSE:AMP)

Optimize Financial Inc bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 742 shares of the financial services provider's stock, valued at approximately $395,000.

Other large investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its position in shares of Ameriprise Financial by 14.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 74,654 shares of the financial services provider's stock worth $39,747,000 after buying an additional 9,662 shares during the period. Coign Capital Advisors LLC bought a new position in Ameriprise Financial during the fourth quarter worth $332,000. Scotia Capital Inc. grew its holdings 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 purchasing an additional 1,149 shares during the period. CenterBook Partners LP grew its holdings in Ameriprise Financial by 14.0% in the fourth 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. Finally, DRW Securities LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at $290,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares of the company's stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have recently commented on AMP shares. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $517.44.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded up $2.04 during trading hours on Tuesday, hitting $476.49. 372,557 shares of the company's stock traded hands, compared to its average volume of 494,731. The stock has a market capitalization of $45.80 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-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 company has a fifty day simple moving average of $498.48 and a 200-day simple moving average of $523.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results 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 net margin of 19.70% and a return on equity of 69.35%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.24%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) 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.