Arete Wealth Advisors LLC Buys New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Arete Wealth Advisors LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, Holdings Channel.com reports. The fund bought 463 shares of the financial services provider’s stock, valued at approximately $247,000.

Other large investors also recently bought and sold shares of the company. Howard Capital Management Group LLC grew its position 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 worth $840,000 after buying an additional 178 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Ameriprise Financial by 1,261.6% in the third quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider’s stock worth $550,000 after acquiring an additional 1,085 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Ameriprise Financial by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 11,524 shares of the financial services provider’s stock worth $5,416,000 after acquiring an additional 324 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of Ameriprise Financial by 71.4% in the 3rd quarter. IHT Wealth Management LLC now owns 1,047 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 436 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth $940,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of the 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 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. This represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, 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. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $421.61 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. 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 50-day simple moving average of $515.46 and a 200-day simple moving average of $524.51. The company has a market capitalization of $40.52 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping 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%. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.40%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Analyst Ratings Changes

Several research firms recently commented on AMP. Piper Sandler increased 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. Morgan Stanley raised their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $514.89.

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.