Wealthspire Advisors LLC Buys 718 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Wealthspire Advisors LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 52.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,078 shares of the financial services provider’s stock after buying an additional 718 shares during the quarter. Wealthspire Advisors LLC’s holdings in Ameriprise Financial were worth $1,106,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after purchasing an additional 338,298 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Ameriprise Financial by 816.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after purchasing an additional 195,271 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after purchasing an additional 143,648 shares during the period. Finally, Maj Invest Holding A S raised its position in shares of Ameriprise Financial by 67.5% in the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock worth $187,466,000 after buying an additional 141,927 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Up 0.1 %

Shares of AMP opened at $530.88 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year 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 0.65. The stock has a 50 day simple moving average of $540.11 and a two-hundred day simple moving average of $512.19. The firm has a market cap of $51.50 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.17 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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, analysts forecast that Ameriprise Financial, Inc. will post 38.64 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. Stockholders of record on Monday, February 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Analysts Set New Price Targets

Several research firms recently commented on AMP. UBS Group cut 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 report on Monday, January 6th. Piper Sandler boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $510.44.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred 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 owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. 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 Ameriprise Financial stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Company 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.