Adero Partners LLC Raises Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Adero Partners LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 585 shares of the financial services provider’s stock after purchasing an additional 51 shares during the period. Adero Partners LLC’s holdings in Ameriprise Financial were worth $311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Czech National Bank increased its holdings in Ameriprise Financial by 5.7% in the third quarter. Czech National Bank now owns 20,002 shares of the financial services provider’s stock valued at $9,397,000 after buying an additional 1,074 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Ameriprise Financial by 5.7% in the third quarter. Miracle Mile Advisors LLC now owns 741 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 40 shares during the period. Atomi Financial Group Inc. boosted its stake in shares of Ameriprise Financial by 6.6% during the third quarter. Atomi Financial Group Inc. now owns 664 shares of the financial services provider’s stock worth $312,000 after buying an additional 41 shares during the period. Country Trust Bank grew its holdings in shares of Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after buying an additional 47 shares during the last quarter. Finally, Brookstone Capital Management acquired a new position in Ameriprise Financial in the 3rd quarter valued at about $226,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AMP shares. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday. Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Performance

NYSE AMP opened at $537.72 on Thursday. The business has a 50 day moving average price of $546.12 and a 200 day moving average price of $500.27. The company has a market capitalization of $52.16 billion, a P/E ratio of 16.27, a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

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%. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.68 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 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.