CoreFirst Bank & Trust Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

CoreFirst Bank & Trust acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 317 shares of the financial services provider’s stock, valued at approximately $169,000.

A number of other hedge funds have also bought and sold shares of the business. Congress Wealth Management LLC DE boosted its holdings in shares of Ameriprise Financial by 9.5% in the fourth quarter. Congress Wealth Management LLC DE now owns 5,139 shares of the financial services provider’s stock worth $2,737,000 after acquiring an additional 447 shares during the period. LPL Financial LLC lifted its holdings in Ameriprise Financial by 33.2% during the 4th quarter. LPL Financial LLC now owns 71,685 shares of the financial services provider’s stock worth $38,167,000 after purchasing an additional 17,875 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Ameriprise Financial in the 4th quarter worth about $17,793,000. Knights of Columbus Asset Advisors LLC grew its holdings in Ameriprise Financial by 2.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 20,266 shares of the financial services provider’s stock valued at $10,790,000 after buying an additional 519 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Ameriprise Financial by 3.4% during the fourth quarter. Sei Investments Co. now owns 245,167 shares of the financial services provider’s stock valued at $130,531,000 after buying an additional 8,052 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Stock Up 3.3 %

AMP opened at $508.82 on Tuesday. The business’s fifty day simple moving average is $527.84 and its 200 day simple moving average is $521.83. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market cap of $48.91 billion, a PE ratio of 15.39, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS 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%. As a group, research analysts expect 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. Shareholders of record on Monday, February 10th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMP shares. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley lifted their price objective 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, Piper Sandler upped 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $514.89.

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.