Cobblestone Capital Advisors LLC NY Makes New $204,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Cobblestone Capital Advisors LLC NY purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 383 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other hedge funds have also modified their holdings of the stock. SVB Wealth LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth $4,289,000. Illumine Investment Management LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth about $331,000. Private Trust Co. NA raised its holdings in Ameriprise Financial by 3.0% during the 4th quarter. Private Trust Co. NA now owns 896 shares of the financial services provider’s stock worth $477,000 after buying an additional 26 shares during the period. Van Cleef Asset Management Inc acquired a new stake in Ameriprise Financial during the 4th quarter worth about $266,000. Finally, QRG Capital Management Inc. raised its holdings in Ameriprise Financial by 0.4% during the 4th quarter. QRG Capital Management Inc. now owns 24,127 shares of the financial services provider’s stock worth $12,846,000 after buying an additional 96 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Trading Up 2.2 %

Ameriprise Financial stock opened at $537.77 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $51.69 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.15 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company’s fifty day moving average price is $539.85 and its two-hundred day moving average price is $514.85.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 1.10%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by insiders.

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.