Quotient Wealth Partners LLC Invests $238,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Quotient Wealth Partners LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 447 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial during the third quarter worth about $31,000. Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at approximately $36,000. Golden State Wealth Management LLC acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $38,000. Peterson Financial Group Inc. bought a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $45,000. Finally, Albion Financial Group UT acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $46,000. 83.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on AMP shares. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler upped 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. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $510.44.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the 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 transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Trading Down 1.7 %

Shares of Ameriprise Financial stock opened at $529.25 on Tuesday. The company has a market capitalization of $51.34 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.18 and a beta of 1.36. The business has a fifty day simple moving average of $544.14 and a two-hundred day simple moving average of $502.75. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

Ameriprise Financial (NYSE:AMP) last released its quarterly 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%. Research analysts forecast that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

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

About Ameriprise Financial

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.