Flagship Wealth Advisors LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Flagship Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 185 shares of the financial services provider’s stock, valued at approximately $98,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. TCTC Holdings LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $26,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial in the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $30,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $36,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Up 1.4 %

NYSE AMP opened at $492.52 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $47.34 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The stock has a 50 day moving average price of $530.81 and a 200-day moving average price of $519.99.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.20%. Ameriprise Financial’s payout ratio is presently 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 stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley upped their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, 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 note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price 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.