NEOS Investment Management LLC Has $2.88 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

NEOS Investment Management LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 29.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,399 shares of the financial services provider’s stock after purchasing an additional 1,243 shares during the quarter. NEOS Investment Management LLC’s holdings in Ameriprise Financial were worth $2,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. TCTC Holdings LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new position in Ameriprise Financial during the 4th quarter valued at about $36,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AMP shares. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price 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, February 3rd. Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $514.89.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last quarter. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Down 3.4 %

Ameriprise Financial stock opened at $481.64 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 company has a market capitalization of $46.29 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.15 and a beta of 1.33. The firm has a 50 day moving average price of $524.55 and a 200-day moving average price of $522.43. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results 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 69.35% and a net margin of 19.70%. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

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.