Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Alley Investment Management Company LLC

Alley Investment Management Company LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 56,388 shares of the financial services provider’s stock after acquiring an additional 507 shares during the period. Ameriprise Financial makes up 3.8% of Alley Investment Management Company LLC’s portfolio, making the stock its 3rd biggest position. Alley Investment Management Company LLC’s holdings in Ameriprise Financial were worth $30,023,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMP. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $30,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $36,000. SRS Capital Advisors Inc. increased its position in shares of Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 20 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated 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 owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMP. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. UBS Group cut shares of 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 research report on Monday, January 6th. Finally, Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $510.44.

Ameriprise Financial Trading Down 1.1 %

AMP opened at $531.61 on Tuesday. The stock has a market capitalization of $51.10 billion, a PE ratio of 16.08, a PEG ratio of 1.15 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a 50-day moving average price of $539.80 and a two-hundred day moving average price of $516.28.

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

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 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.