E&G Advisors LP Invests $213,000 in Ameriprise Financial, Inc. (NYSE:AMP)

E&G Advisors LP bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 400 shares of the financial services provider’s stock, valued at approximately $213,000.

A number of other hedge funds have also recently bought and sold shares of AMP. Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $31,000. Country Trust Bank increased its holdings in shares of Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at $36,000. Peterson Financial Group Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth $45,000. Finally, Albion Financial Group UT acquired a new position in shares of Ameriprise Financial in the 4th quarter worth $46,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

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

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley boosted their price target 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. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Stock Performance

AMP stock opened at $537.64 on Tuesday. The company has a market capitalization of $52.16 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.18 and a beta of 1.36. The firm has a 50 day moving average of $547.55 and a two-hundred day moving average of $498.55. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12 month low of $385.56 and a 12 month high of $582.05.

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 net margin of 19.70% and a return on equity of 69.35%. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.68 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm 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 dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.10%. Ameriprise Financial’s payout ratio is 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.