Whipplewood Advisors LLC Purchases Shares of 53 Ameriprise Financial, Inc. (NYSE:AMP)

Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 53 shares of the financial services provider’s stock, valued at approximately $28,000.

Other large investors also recently made changes to their positions in the company. Czech National Bank boosted its holdings in Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after acquiring an additional 1,033 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Ameriprise Financial by 19.9% in the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 1,329 shares in the last quarter. Bridgewater Associates LP grew its position in Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares during the period. SpiderRock Advisors LLC increased its stake in Ameriprise Financial by 136.3% during the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after purchasing an additional 1,867 shares in the last quarter. Finally, Aljian Capital Management LLC acquired a new position in Ameriprise Financial during the third quarter worth $458,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler lifted 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 analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Performance

AMP stock opened at $537.77 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $51.69 billion, a PE ratio of 16.27, a P/E/G ratio of 1.15 and a beta of 1.36. The business has a 50 day moving average of $539.85 and a 200-day moving average of $514.85. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

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, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insiders Place Their Bets

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.73% of the company’s stock.

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.