Twelve Points Wealth Management LLC Takes $218,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Twelve Points Wealth Management LLC bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 409 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $31,000. Country Trust Bank boosted its position in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Ameriprise Financial during the fourth quarter worth approximately $36,000. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial in the third quarter valued at approximately $45,000. Finally, Albion Financial Group UT purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $46,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.6 %

Shares of NYSE AMP opened at $575.28 on Thursday. The stock has a market cap of $55.81 billion, a PE ratio of 22.08, a P/E/G ratio of 0.85 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 12-month low of $378.05 and a 12-month high of $577.89. The company has a 50-day moving average of $548.34 and a 200 day moving average of $495.95.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 68.52% and a net margin of 15.99%. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 33.96 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods cut their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $503.22.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

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.