Financial Perspectives Inc Buys 200 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Financial Perspectives Inc increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 146.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 337 shares of the financial services provider’s stock after purchasing an additional 200 shares during the quarter. Financial Perspectives Inc’s holdings in Ameriprise Financial were worth $180,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth $30,000. Oakworth Capital Inc. purchased a new position in Ameriprise Financial in the third quarter worth about $31,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the fourth quarter worth about $36,000. Golden State Wealth Management LLC purchased a new position in Ameriprise Financial in the fourth quarter worth about $38,000. Finally, Albion Financial Group UT purchased a new position in Ameriprise Financial in the fourth quarter worth about $46,000. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. UBS Group downgraded 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 research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $546.48 on Wednesday. The company has a market capitalization of $53.01 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $541.06 and a 200 day moving average of $507.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

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.