Van Strum & Towne Inc. Acquires 40 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Van Strum & Towne Inc. grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,040 shares of the financial services provider’s stock after purchasing an additional 40 shares during the quarter. Van Strum & Towne Inc.’s holdings in Ameriprise Financial were worth $554,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMP. Howard Capital Management Group LLC boosted its stake in shares of Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 178 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Ameriprise Financial by 5.5% during the third quarter. Harbour Investments Inc. now owns 1,006 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 52 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Ameriprise Financial during the third quarter valued at about $503,000. Empower Advisory Group LLC acquired a new stake in shares of Ameriprise Financial during the third quarter valued at about $223,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Ameriprise Financial by 25.1% during the third quarter. Oppenheimer & Co. Inc. now owns 6,358 shares of the financial services provider’s stock valued at $2,987,000 after purchasing an additional 1,275 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was 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 $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last quarter. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Morgan Stanley lifted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock 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 cut their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Trading Up 2.9 %

Shares of AMP stock opened at $485.94 on Friday. The company has a market cap of $46.71 billion, a P/E ratio of 14.70, a PEG ratio of 1.15 and a beta of 1.33. The stock has a 50 day simple moving average of $531.56 and a two-hundred day simple moving average of $518.53. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping 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%. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.22%. Ameriprise Financial’s dividend payout ratio is 17.91%.

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.