12,800 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, HoldingsChannel reports. The fund bought 12,800 shares of the financial services provider’s stock, valued at approximately $6,815,000.

Other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC bought a new position in Ameriprise Financial in the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth $28,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter worth $36,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One 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’s stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial Stock Down 0.8 %

Shares of AMP opened at $489.01 on Wednesday. The stock has a market capitalization of $47.00 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The business’s 50 day simple moving average is $530.03 and its 200-day simple moving average is $520.27. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick 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 (EPS) for the quarter, topping 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%. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 annualized dividend and a dividend yield of 1.21%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred 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 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 the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last ninety days. Corporate 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.