Essex Financial Services Inc. Has $398,000 Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Essex Financial Services Inc. lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 748 shares of the financial services provider’s stock after acquiring an additional 31 shares during the period. Essex Financial Services Inc.’s holdings in Ameriprise Financial were worth $398,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at about $30,000. Oakworth Capital Inc. acquired a new stake in Ameriprise Financial during the third quarter worth about $31,000. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth about $36,000. Golden State Wealth Management LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth about $38,000. Finally, Albion Financial Group UT acquired a new stake in Ameriprise Financial during the fourth quarter worth about $46,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 2.6 %

AMP stock opened at $540.66 on Friday. The stock has a market capitalization of $52.45 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.18 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. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The firm has a 50-day moving average price of $541.99 and a 200-day moving average price of $504.16.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS 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. Investors of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AMP shares. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada reiterated 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 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 note on Monday, February 3rd. 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 note on Monday, January 6th. Finally, Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target 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.