Mengis Capital Management Inc. Acquires New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Mengis Capital Management Inc. acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 400 shares of the financial services provider’s stock, valued at approximately $213,000.

Other institutional investors also recently modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $30,000. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $36,000. Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $38,000. Peterson Financial Group Inc. bought a new position in shares of Ameriprise Financial in the third quarter worth about $45,000. Finally, Albion Financial Group UT bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $46,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Piper Sandler raised their price target 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 cut 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 report on Monday, January 6th. One investment 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’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $530.88 on Tuesday. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $51.03 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The stock has a 50 day moving average price of $540.11 and a 200-day moving average price of $512.19.

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

Ameriprise Financial Announces Dividend

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

Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s 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 completion of the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.96% of the company’s stock.

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.