Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 24.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 40,055 shares of the financial services provider’s stock after purchasing an additional 7,816 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ameriprise Financial were worth $21,326,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at $30,000. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth $36,000. Golden State Wealth Management LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth $38,000. Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial during the 3rd quarter worth $45,000. Finally, Albion Financial Group UT purchased a new stake in Ameriprise Financial during the 4th quarter worth $46,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of several analyst reports. 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. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $510.44.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business’s 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. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Trading Down 1.7 %

NYSE AMP opened at $521.85 on Wednesday. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a 50-day simple moving average of $539.71 and a 200-day simple moving average of $513.01. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $50.16 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate 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, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared 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. This represents a $5.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Ameriprise Financial 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.