BlueStem Wealth Partners LLC Makes New $3.07 Million Investment in Ameriprise Financial, Inc. (NYSE:AMP)

BlueStem Wealth Partners LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,766 shares of the financial services provider’s stock, valued at approximately $3,070,000. Ameriprise Financial accounts for about 0.4% of BlueStem Wealth Partners LLC’s holdings, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Geller Advisors LLC boosted its stake in Ameriprise Financial by 2.2% during the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after buying an additional 19 shares during the period. Cerro Pacific Wealth Advisors LLC boosted its stake in shares of Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 19 shares during the period. Legacy Capital Wealth Partners LLC boosted its stake in shares of Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 20 shares during the period. Dakota Wealth Management boosted its stake in shares of Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 21 shares during the period. Finally, Abel Hall LLC boosted its stake in shares of Ameriprise Financial by 4.2% during the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 21 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

AMP stock opened at $537.77 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50-day moving average price of $539.85 and a 200 day moving average price of $514.85. The company has a market capitalization of $51.69 billion, a P/E ratio of 16.27, a PEG ratio of 1.15 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping 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%. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMP. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler boosted their target price 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. One equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $510.44.

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.