WealthTrust Asset Management LLC Makes New $816,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

WealthTrust Asset Management LLC purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,532 shares of the financial services provider’s stock, valued at approximately $816,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after buying an additional 358,699 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ameriprise Financial by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after buying an additional 31,158 shares during the last quarter. Amundi grew its holdings in shares of Ameriprise Financial by 48.0% during the fourth quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after buying an additional 208,195 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Ameriprise Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock valued at $320,692,000 after buying an additional 5,048 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after purchasing an additional 338,298 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 in the last ninety days. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $485.94 on Friday. The firm has a 50 day simple moving average of $531.56 and a 200-day simple moving average of $519.08. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. 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 stock has a market cap of $46.71 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current 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 paid 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 1.22%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Wall Street Analyst Weigh In

Several research firms have commented on AMP. Morgan Stanley upped their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $514.89.

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.