Means Investment CO. Inc. Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Means Investment CO. Inc. acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 389 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other institutional investors have also modified their holdings of AMP. Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial in the 3rd quarter worth $31,000. Country Trust Bank raised its holdings in Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after buying an additional 47 shares during the period. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth about $36,000. Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial during the third quarter valued at about $45,000. Finally, Albion Financial Group UT purchased a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were 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 in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMP. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods dropped their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, January 27th. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $509.33.

Ameriprise Financial Stock Performance

Shares of AMP opened at $542.83 on Monday. The firm has a market cap of $52.66 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 0.87 and a beta of 1.36. Ameriprise Financial, Inc. has a 12 month low of $378.05 and a 12 month high of $582.05. The company’s fifty day moving average is $547.55 and its 200-day moving average is $498.01. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last announced 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 return on equity of 69.46% and a net margin of 19.70%. Equities analysts expect that Ameriprise Financial, Inc. will post 39.04 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is 17.91%.

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.