Abel Hall LLC Has $275,000 Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Abel Hall LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 517 shares of the financial services provider’s stock after buying an additional 21 shares during the quarter. Abel Hall LLC’s holdings in Ameriprise Financial were worth $275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AMP. Highland Capital Management LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at $1,286,000. Strategic Blueprint LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $228,000. Smith Group Asset Management LLC lifted its holdings in shares of Ameriprise Financial by 0.5% during the 4th quarter. Smith Group Asset Management LLC now owns 69,945 shares of the financial services provider’s stock valued at $37,241,000 after purchasing an additional 344 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after purchasing an additional 338,298 shares during the period. Finally, R Squared Ltd bought a new stake in Ameriprise Financial during the 4th quarter worth approximately $490,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research analyst reports. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday. Finally, Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. 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 stock presently has an average rating of “Hold” and a consensus price target of $503.22.

Ameriprise Financial Stock Performance

AMP opened at $575.28 on Thursday. The business’s 50-day simple moving average is $548.34 and its 200 day simple moving average is $495.95. Ameriprise Financial, Inc. has a 52-week low of $378.05 and a 52-week high of $577.89. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $55.81 billion, a PE ratio of 22.08, a PEG ratio of 0.85 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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 return on equity of 68.52% and a net margin of 15.99%. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 33.96 earnings per share 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 paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Ameriprise Financial Company 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.