Golden State Wealth Management LLC Purchases Shares of 71 Ameriprise Financial, Inc. (NYSE:AMP)

Golden State Wealth Management LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 71 shares of the financial services provider’s stock, valued at approximately $38,000.

Other large investors have also recently modified their holdings of the company. Oakworth Capital Inc. purchased a new position in Ameriprise Financial in the third quarter worth $31,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth $36,000. Peterson Financial Group Inc. acquired a new position in Ameriprise Financial during the 3rd quarter valued at about $45,000. Albion Financial Group UT purchased a new stake in Ameriprise Financial in the fourth quarter valued at about $46,000. Finally, Friedenthal Financial acquired a new stake in Ameriprise Financial in the fourth quarter worth about $58,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $528.72 on Wednesday. The business’s 50-day moving average is $543.42 and its two-hundred day moving average is $503.37. The company has a market capitalization of $51.29 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. Research analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $510.44.

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.