Authentikos Wealth Advisory LLC Acquires New Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Authentikos Wealth Advisory LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 600 shares of the financial services provider’s stock, valued at approximately $319,000.

A number of other hedge funds also recently modified their holdings of the business. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $30,000. Oakworth Capital Inc. bought a new stake in Ameriprise Financial in the third quarter valued at approximately $31,000. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at approximately $36,000. Golden State Wealth Management LLC bought a new position in Ameriprise Financial during the 4th quarter worth approximately $38,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Morgan Stanley boosted their price target 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $528.72 on Wednesday. The business has a 50-day simple moving average of $543.42 and a 200 day simple moving average of $503.37. The firm has a market capitalization of $51.29 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.18 and a beta of 1.36. 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, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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, research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

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.