Deseret Mutual Benefit Administrators Grows Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Deseret Mutual Benefit Administrators raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 21.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 668 shares of the financial services provider’s stock after acquiring an additional 119 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Ameriprise Financial were worth $356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Howard Capital Management Group LLC grew its holdings in Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 178 shares during the period. Foundations Investment Advisors LLC acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at $206,000. Private Advisor Group LLC grew its stake in shares of Ameriprise Financial by 10.5% during the 3rd quarter. Private Advisor Group LLC now owns 6,417 shares of the financial services provider’s stock valued at $3,015,000 after buying an additional 612 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $456,890,000. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter worth $368,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 2.0 %

NYSE AMP opened at $530.18 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The business has a 50 day moving average price of $540.89 and a two-hundred day moving average price of $508.68. The stock has a market cap of $51.44 billion, a PE ratio of 16.04, a P/E/G ratio of 1.19 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid 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 dividend yield of 1.12%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Analysts Set New Price Targets

AMP has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler boosted their target price 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 shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. One 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $510.44.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by insiders.

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.