1,550 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Bought by Polymer Capital Management US LLC

Polymer Capital Management US LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,550 shares of the financial services provider's stock, valued at approximately $825,000.

Other hedge funds have also made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth $26,000. Whipplewood Advisors LLC acquired a new position in Ameriprise Financial during the fourth quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the 4th quarter valued at about $30,000. Finally, Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analyst Weigh In

AMP has been the subject of several recent research reports. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Morgan Stanley raised their target price 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. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research report on Monday, April 7th. Royal Bank of Canada restated an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $517.44.

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Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the company'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 owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction 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 completion of the transaction, the director now owns 10,000 shares of the company's stock, valued at approximately $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 have sold 11,636 shares of company stock worth $6,263,989 over the last three months. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Trading Up 2.8 %

Shares of Ameriprise Financial stock traded up $13.01 on Friday, reaching $469.53. The company had a trading volume of 612,195 shares, compared to its average volume of 496,494. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $45.13 billion, a PE ratio of 14.20, a PEG ratio of 1.15 and a beta of 1.23. The firm's 50 day moving average price is $501.06 and its two-hundred day moving average price is $523.06. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping 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%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.26%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio is currently 17.91%.

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.