Harbour Investment Management LLC Boosts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Harbour Investment Management LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 752 shares of the financial services provider’s stock after acquiring an additional 152 shares during the quarter. Harbour Investment Management LLC’s holdings in Ameriprise Financial were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the fourth quarter valued at $30,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $36,000. Finally, SRS Capital Advisors Inc. increased its holdings in Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $485.94 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market cap of $46.71 billion, a P/E ratio of 14.70, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a 50-day moving average price of $531.56 and a 200 day moving average price of $518.53.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 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%. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.22%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 sale, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred 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 sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % 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 worth $6,263,989. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley raised their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $514.89.

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.