Ameriprise Financial, Inc. (NYSE:AMP) Position Increased by Certuity LLC

Certuity LLC raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 58.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,875 shares of the financial services provider’s stock after purchasing an additional 1,056 shares during the quarter. Certuity LLC’s holdings in Ameriprise Financial were worth $1,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brookstone Capital Management bought a new position in Ameriprise Financial during the third quarter valued at approximately $226,000. Ritholtz Wealth Management increased its stake in shares of Ameriprise Financial by 11.7% during the 3rd quarter. Ritholtz Wealth Management now owns 1,964 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 206 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Ameriprise Financial during the 3rd quarter valued at $108,000. Armstrong Advisory Group Inc. lifted its stake in shares of Ameriprise Financial by 16.7% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 265 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 38 shares during the last quarter. Finally, Paladin Wealth LLC bought a new stake in Ameriprise Financial in the third quarter worth $144,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were 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 owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Down 0.1 %

NYSE AMP opened at $528.72 on Wednesday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The stock has a market cap of $51.29 billion, a PE ratio of 15.99, a PEG ratio of 1.18 and a beta of 1.36. The firm has a 50-day simple moving average of $543.42 and a 200 day simple moving average of $503.37.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping 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 forecast that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is 17.91%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods upped their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $510.44.

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.