Accurate Wealth Management LLC Acquires 5,070 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Accurate Wealth Management LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1,067.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,545 shares of the financial services provider’s stock after buying an additional 5,070 shares during the period. Accurate Wealth Management LLC’s holdings in Ameriprise Financial were worth $2,858,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial in the 3rd quarter valued at $31,000. Country Trust Bank boosted its position in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 47 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Ameriprise Financial in the third quarter valued at about $45,000. Friedenthal Financial purchased a new position in Ameriprise Financial in the fourth quarter valued at about $58,000. Finally, Trifecta Capital Advisors LLC raised its holdings in Ameriprise Financial by 31.4% in the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 1.7 %

Ameriprise Financial stock opened at $526.21 on Wednesday. The business’s 50-day simple moving average is $549.04 and its two-hundred day simple moving average is $487.35. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $51.05 billion, a PE ratio of 20.20, a PEG ratio of 0.96 and a beta of 1.36. Ameriprise Financial, Inc. has a fifty-two week low of $368.41 and a fifty-two week high of $577.00.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.13%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial 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 transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMP. Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Finally, UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $494.89.

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.