Spahn Wealth & Retirement LLC Buys New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Spahn Wealth & Retirement LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 795 shares of the financial services provider’s stock, valued at approximately $423,000. Ameriprise Financial makes up about 0.3% of Spahn Wealth & Retirement LLC’s portfolio, making the stock its 27th biggest position.

A number of other large investors have also bought and sold shares of AMP. JPMorgan Chase & Co. boosted its position in shares of Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after purchasing an additional 516,437 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ameriprise Financial by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock worth $1,407,607,000 after acquiring an additional 38,141 shares in the last quarter. Norges Bank acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $689,272,000. Amundi grew its stake in Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after acquiring an additional 208,195 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Ameriprise Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock valued at $320,692,000 after acquiring an additional 5,048 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 1.2 %

AMP stock opened at $494.53 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The stock has a market cap of $47.53 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.15 and a beta of 1.33. The stock’s fifty day simple moving average is $520.45 and its two-hundred day simple moving average is $524.14. 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 issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 in the last quarter. Insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AMP shares. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Piper Sandler raised their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $514.89.

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.