IPG Investment Advisors LLC Buys New Stake in Ameriprise Financial, Inc. (NYSE:AMP)

IPG Investment Advisors LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,542 shares of the financial services provider’s stock, valued at approximately $1,353,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. TCTC Holdings LLC bought a new position in Ameriprise Financial in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $30,000. Finally, Sound Income Strategies LLC acquired a new stake in Ameriprise Financial in the fourth quarter worth approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 3.4 %

AMP stock opened at $481.64 on Friday. The company has a 50 day moving average of $524.55 and a two-hundred day moving average of $523.05. The company has a market cap of $46.29 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

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

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.23%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on 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 directly owns 10,000 shares of the company’s stock, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s 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 sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMP has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of 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 increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group downgraded 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, Morgan Stanley upped their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $514.89.

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.