abrdn plc Purchases 532 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

abrdn plc increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,736 shares of the financial services provider’s stock after purchasing an additional 532 shares during the period. abrdn plc’s holdings in Ameriprise Financial were worth $48,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Oakworth Capital Inc. purchased a new position in Ameriprise Financial in the third quarter valued at about $31,000. Country Trust Bank raised its stake in shares of Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 47 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at approximately $36,000. Peterson Financial Group Inc. purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $45,000. Finally, Albion Financial Group UT purchased a new stake in Ameriprise Financial in the fourth quarter valued at about $46,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $535.83 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The firm has a market cap of $51.98 billion, a PE ratio of 16.21, a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $385.56 and a one year high of $582.05. The firm has a fifty day moving average of $546.89 and a 200 day moving average of $499.39.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, research analysts predict that Ameriprise Financial, Inc. will post 38.68 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday. Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $510.44.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by company 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.