Aviso Wealth Management Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Aviso Wealth Management acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, HoldingsChannel reports. The firm acquired 408 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TCTC Holdings LLC bought a new position in Ameriprise Financial during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $28,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial during the 4th quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial during the 4th quarter worth approximately $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of AMP opened at $512.01 on Wednesday. The firm has a market capitalization of $49.21 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The stock has a 50 day moving average price of $527.56 and a two-hundred day moving average price of $522.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.16%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price objective 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. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $514.89.

Insider Activity

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on 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 sale, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 in the last ninety days. 0.96% of the stock is currently owned by insiders.

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.