Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,337 shares of the financial services provider’s stock after buying an additional 127 shares during the period. RWA Wealth Partners LLC’s holdings in Ameriprise Financial were worth $2,309,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $28,000. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the fourth quarter valued at $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMP. 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 report on Monday, January 6th. Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Morgan Stanley increased their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods boosted 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 analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial Stock Performance

NYSE AMP opened at $481.64 on Monday. The firm has a market cap of $46.29 billion, a P/E ratio of 14.57, a P/E/G 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 business’s 50-day moving average price is $524.55 and its 200 day moving average price is $523.67. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

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 return on equity of 69.35% and a net margin of 19.70%. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. Ameriprise Financial’s payout ratio is currently 17.91%.

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.