Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,886 shares of the financial services provider’s stock after acquiring an additional 29 shares during the period. Kingsview Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,537,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at $31,000. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $36,000. Golden State Wealth Management LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at about $38,000. Albion Financial Group UT purchased a new position in Ameriprise Financial during the fourth quarter worth about $46,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Ameriprise Financial during the third quarter valued at about $45,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. 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 research note on Thursday, October 17th. Piper Sandler increased their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their target price on 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $510.44.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $529.25 on Tuesday. 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 company has a market cap of $51.34 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The stock’s 50-day moving average is $544.14 and its two-hundred day moving average is $502.75. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results 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 net margin of 19.70% and a return on equity of 69.35%. Analysts forecast that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. 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 payout ratio is 17.91%.

About Ameriprise Financial

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.