Evoke Wealth LLC Acquires 114 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Evoke Wealth LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 26.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 552 shares of the financial services provider’s stock after purchasing an additional 114 shares during the quarter. Evoke Wealth LLC’s holdings in Ameriprise Financial were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. TCTC Holdings LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at $28,000. Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial during the fourth quarter valued at $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at $36,000. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on AMP shares. Piper Sandler upped their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $514.89.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the 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 sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $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. Insiders sold 11,636 shares of company stock valued at $6,263,989 in the last ninety days. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $499.03 on Thursday. The stock has a 50 day moving average of $529.32 and a 200 day moving average of $520.13. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The firm has a market cap of $47.97 billion, a PE ratio of 15.09, a PEG ratio of 1.15 and a beta of 1.33. 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 (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed 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 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is 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.