WealthTrust Asset Management LLC Buys Shares of 1,532 Ameriprise Financial, Inc. (NYSE:AMP)

WealthTrust Asset Management LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,532 shares of the financial services provider's stock, valued at approximately $816,000.

Other large investors have also recently bought and sold shares of the company. Howard Capital Management Group LLC boosted its holdings in shares of Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider's stock valued at $840,000 after acquiring an additional 178 shares during the period. Harbour Investments Inc. lifted its position in Ameriprise Financial by 5.5% in the 3rd quarter. Harbour Investments Inc. now owns 1,006 shares of the financial services provider's stock valued at $472,000 after purchasing an additional 52 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Ameriprise Financial during the 3rd quarter valued at about $503,000. Empower Advisory Group LLC bought a new position in Ameriprise Financial in the 3rd quarter worth about $223,000. Finally, Oppenheimer & Co. Inc. grew its position in Ameriprise Financial by 25.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,358 shares of the financial services provider's stock worth $2,987,000 after purchasing an additional 1,275 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent analyst reports. Piper Sandler lifted 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. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $514.89.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded down $6.26 during trading on Thursday, hitting $492.77. The stock had a trading volume of 436,163 shares, compared to its average volume of 456,573. The business has a fifty day moving average of $529.32 and a two-hundred day moving average of $520.13. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market cap of $47.36 billion, a P/E ratio of 14.91, a PEG ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued 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 net margin of 19.70% and a return on equity of 69.35%. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's payout ratio is 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.