New Wave Wealth Advisors LLC Makes New $433,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

New Wave Wealth Advisors LLC purchased 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 and Exchange Commission (SEC). The firm purchased 814 shares of the financial services provider’s stock, valued at approximately $433,000.

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

Insider Buying and Selling at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods dropped their price target on 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $503.22.

Ameriprise Financial Trading Down 4.7 %

Shares of NYSE AMP opened at $547.95 on Friday. Ameriprise Financial, Inc. has a 1 year low of $378.05 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a 50-day moving average of $548.14 and a 200 day moving average of $496.86. The stock has a market cap of $53.16 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 0.87 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.46%. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 39.04 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Ameriprise Financial 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.