Authentikos Wealth Advisory LLC Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Authentikos Wealth Advisory LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 600 shares of the financial services provider’s stock, valued at approximately $319,000.

A number of other hedge funds also recently made changes to their positions in the business. Brookstone Capital Management bought a new stake in Ameriprise Financial in the third quarter worth about $226,000. Ritholtz Wealth Management increased its stake in shares of Ameriprise Financial by 11.7% during the 3rd quarter. Ritholtz Wealth Management now owns 1,964 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 206 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $108,000. Armstrong Advisory Group Inc. raised its holdings in shares of Ameriprise Financial by 16.7% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 265 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 38 shares during the period. Finally, Paladin Wealth LLC purchased a new position in Ameriprise Financial in the third quarter valued at approximately $144,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Down 0.1 %

AMP stock opened at $528.72 on Wednesday. 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 $51.29 billion, a PE ratio of 15.99, a PEG ratio of 1.18 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a 50-day simple moving average of $543.42 and a two-hundred day simple moving average of $503.37.

Ameriprise Financial (NYSE:AMP) last issued 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 net margin of 19.70% and a return on equity of 69.35%. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.55 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 issued a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. Ameriprise Financial’s payout ratio is currently 17.91%.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were 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 directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $510.44.

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.