Wealthstar Advisors LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 538 shares of the financial services provider's stock, valued at approximately $286,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Oakworth Capital Inc. acquired a new position in Ameriprise Financial in the third quarter valued at $31,000. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth about $36,000. Golden State Wealth Management LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at about $38,000. Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial during the 3rd quarter valued at approximately $45,000. Finally, Albion Financial Group UT acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 83.95% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on AMP shares. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Royal Bank of Canada reissued an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $510.44.
Read Our Latest Stock Report on Ameriprise Financial
Insider Activity at Ameriprise Financial
In other news, CEO William F. Truscott sold 6,000 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.73% of the stock is owned by corporate insiders.
Ameriprise Financial Price Performance
AMP stock traded up $13.80 during trading on Thursday, reaching $540.66. 914,810 shares of the company were exchanged, compared to its average volume of 540,400. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The stock's 50 day moving average price is $541.99 and its 200 day moving average price is $504.16. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a market cap of $52.45 billion, a P/E ratio of 16.35, a PEG ratio of 1.18 and a beta of 1.36.
Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly 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 return on equity of 69.35% and a net margin of 19.70%. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.
Ameriprise Financial Dividend Announcement
The business 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 dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.09%. Ameriprise Financial's dividend payout ratio is currently 17.91%.
About Ameriprise Financial
(
Free Report)
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.
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