YANKCOM Partnership Invests $2.40 Million in Ameriprise Financial, Inc. (NYSE:AMP)

YANKCOM Partnership purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,499 shares of the financial services provider’s stock, valued at approximately $2,395,000. Ameriprise Financial accounts for about 1.3% of YANKCOM Partnership’s holdings, making the stock its 15th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oakworth Capital Inc. acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $31,000. Country Trust Bank lifted its position in shares of Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $36,000. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial during the 3rd quarter valued at $45,000. Finally, Albion Financial Group UT purchased a new stake in Ameriprise Financial during the 4th quarter worth $46,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday. Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 0.4 %

NYSE:AMP opened at $537.72 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average of $546.12 and a 200-day moving average of $500.27. The firm has a market capitalization of $52.16 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping 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%. Analysts predict that Ameriprise Financial, Inc. will post 38.68 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.10%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

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.