Banco Santander S.A. Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Banco Santander S.A. bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,856 shares of the financial services provider’s stock, valued at approximately $988,000.

Several other institutional investors have also recently made changes to their positions in AMP. Geller Advisors LLC lifted its holdings in shares of Ameriprise Financial by 2.2% during the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 19 shares during the period. Cerro Pacific Wealth Advisors LLC increased its position in shares of Ameriprise Financial by 3.4% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after buying an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its position in shares of Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after buying an additional 20 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after buying an additional 20 shares in the last quarter. Finally, Dakota Wealth Management increased its position in shares of Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after buying an additional 21 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on AMP. Keefe, Bruyette & Woods increased their price objective 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. Morgan Stanley lifted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price 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 dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $514.89.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial 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 completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial 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 sale, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 in the last quarter. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 0.7 %

NYSE:AMP opened at $499.28 on Monday. The business’s fifty day moving average price is $536.85 and its 200 day moving average price is $518.21. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a market capitalization of $47.99 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.19%. Ameriprise Financial’s dividend payout ratio (DPR) 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.