Strategic Financial Concepts LLC Invests $10.07 Million in Ameriprise Financial, Inc. (NYSE:AMP)

Strategic Financial Concepts LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 18,905 shares of the financial services provider's stock, valued at approximately $10,066,000.

A number of other large investors have also recently made changes to their positions in the business. Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial in the fourth quarter worth $30,000. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial in the 3rd quarter worth about $31,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth about $36,000. Golden State Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at about $38,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Ameriprise Financial during the third quarter valued at about $45,000. 83.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research note on Monday, February 3rd. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business'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. The trade was a 9.09 % decrease in their position. The sale 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 company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.96% of the company's stock.

Ameriprise Financial Stock Up 0.3 %

Shares of NYSE:AMP traded up $1.78 on Wednesday, hitting $548.84. 447,313 shares of the company traded hands, compared to its average volume of 557,325. The stock has a 50 day simple moving average of $541.06 and a 200-day simple moving average of $508.17. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market cap of $53.24 billion, a PE ratio of 16.60, a PEG ratio of 1.19 and a beta of 1.36. 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 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 net margin of 19.70% and a return on equity of 69.35%. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.08%. Ameriprise Financial's dividend payout ratio (DPR) is presently 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.