Fairvoy Private Wealth LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Fairvoy Private Wealth LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,925 shares of the financial services provider’s stock, valued at approximately $4,220,000. Ameriprise Financial comprises approximately 1.1% of Fairvoy Private Wealth LLC’s investment portfolio, making the stock its 25th largest position.

Several other large investors have also modified their holdings of the business. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $31,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $36,000. Peterson Financial Group Inc. purchased a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $45,000. Albion Financial Group UT purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $46,000. Finally, Friedenthal Financial purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday. Piper Sandler upped 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. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley upped their price target 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, Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $541.99 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market capitalization of $52.58 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The stock’s 50-day simple moving average is $545.44 and its 200-day simple moving average is $500.53.

Ameriprise Financial (NYSE:AMP) last issued its 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 return on equity of 69.35% and a net margin of 19.70%. As a group, equities research analysts forecast 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. Investors of record on Monday, February 10th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s 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 $3,615,701.44. This trade represents a 57.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.96% of the stock is currently owned by company insiders.

About Ameriprise Financial

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.