Scotia Capital Inc. Purchases 1,149 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Scotia Capital Inc. raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 263.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,585 shares of the financial services provider’s stock after acquiring an additional 1,149 shares during the period. Scotia Capital Inc.’s holdings in Ameriprise Financial were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AMP. Howard Capital Management Group LLC grew its stake in Ameriprise Financial by 11.1% during the 3rd 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 during the last quarter. Morse Asset Management Inc acquired a new stake in Ameriprise Financial in the third quarter worth about $940,000. Passumpsic Savings Bank purchased a new stake in shares of Ameriprise Financial during the third quarter worth about $211,000. Anchor Investment Management LLC increased its holdings in shares of Ameriprise Financial by 3,275.0% during the third quarter. Anchor Investment Management LLC now owns 270 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 262 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of Ameriprise Financial by 4.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 16,286 shares of the financial services provider’s stock valued at $7,651,000 after purchasing an additional 660 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction 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 sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 2.8 %

Shares of AMP stock opened at $469.53 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The stock has a 50 day moving average of $501.06 and a 200 day moving average of $523.45. The stock has a market cap of $45.13 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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%. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price 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 report on Monday, February 3rd. Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. Finally, Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $517.44.

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.