Novem Group Invests $981,000 in Ameriprise Financial, Inc. $AMP

Novem Group bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,000 shares of the financial services provider’s stock, valued at approximately $981,000.

Several other institutional investors also recently bought and sold shares of the stock. Rexford Capital Inc. boosted its holdings in Ameriprise Financial by 20.6% during the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after buying an additional 21 shares in the last quarter. PFG Investments LLC grew its position in shares of Ameriprise Financial by 1.4% during the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. grew its position in shares of Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 21 shares during the period. UMB Bank n.a. increased its stake in shares of Ameriprise Financial by 0.8% in the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock valued at $1,504,000 after purchasing an additional 23 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Ameriprise Financial by 5.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 23 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the transaction, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,658 shares of company stock valued at $8,998,675. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AMP shares. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Finally, Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $485.00 to $452.00 and set an “underweight” rating on the stock in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $544.22.

Ameriprise Financial Stock Up 1.1%

NYSE AMP opened at $461.40 on Wednesday. The business has a fifty day moving average price of $455.26 and a 200 day moving average price of $474.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $42.07 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.12 and a beta of 1.27. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the company posted $9.54 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts anticipate that Ameriprise Financial, Inc. will post 41.31 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial’s payout ratio is presently 17.60%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.