Wealthspire Advisors LLC Has $1.11 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Wealthspire Advisors LLC grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 52.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,078 shares of the financial services provider’s stock after acquiring an additional 718 shares during the quarter. Wealthspire Advisors LLC’s holdings in Ameriprise Financial were worth $1,106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. Fisher Funds Management LTD acquired a new stake in Ameriprise Financial in the 4th quarter valued at $12,623,000. Pinnacle Financial Partners Inc grew its holdings in shares of Ameriprise Financial by 3.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 1,116 shares of the financial services provider’s stock valued at $594,000 after buying an additional 32 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of Ameriprise Financial by 21.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 668 shares of the financial services provider’s stock valued at $356,000 after buying an additional 119 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its position in shares of Ameriprise Financial by 4.7% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 5,604 shares of the financial services provider’s stock worth $2,984,000 after acquiring an additional 254 shares in the last quarter. Finally, Morningstar Investment Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $209,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on 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 transaction, the insider now owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 in the last three months. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 0.1 %

AMP stock opened at $530.88 on Tuesday. The stock has a market cap of $51.50 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.17 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The stock’s fifty day simple moving average is $540.11 and its two-hundred day simple moving average is $512.19. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Analysts Set New Price Targets

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 target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $510.44.

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.