Adero Partners LLC Acquires 51 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Adero Partners LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 585 shares of the financial services provider’s stock after purchasing an additional 51 shares during the period. Adero Partners LLC’s holdings in Ameriprise Financial were worth $311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. YANKCOM Partnership bought a new stake in Ameriprise Financial during the 4th quarter valued at $2,395,000. Mirae Asset Global Investments Co. Ltd. grew its position in Ameriprise Financial by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,986 shares of the financial services provider’s stock worth $11,176,000 after purchasing an additional 2,368 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Ameriprise Financial by 120.0% during the 4th quarter. Y.D. More Investments Ltd now owns 121 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 66 shares during the period. Jackson Wealth Management LLC purchased a new stake in Ameriprise Financial in the fourth quarter valued at approximately $3,413,000. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Ameriprise Financial by 15.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,419 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

AMP opened at $537.72 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm has a market capitalization of $52.16 billion, a PE ratio of 16.27, a PEG ratio of 1.18 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The firm’s 50-day moving average price is $546.12 and its 200 day moving average price is $500.27.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results 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, sell-side analysts expect 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 given a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Activity at Ameriprise Financial

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMP shares. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. 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. 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. Finally, Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $510.44.

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.