Stephens Inc. AR Grows Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Stephens Inc. AR boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,189 shares of the financial services provider’s stock after buying an additional 44 shares during the period. Stephens Inc. AR’s holdings in Ameriprise Financial were worth $1,165,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new stake in shares of Ameriprise Financial during the third quarter worth about $108,000. Wesbanco Bank Inc. grew its holdings in Ameriprise Financial by 9.9% during the 3rd quarter. Wesbanco Bank Inc. now owns 1,169 shares of the financial services provider’s stock valued at $549,000 after buying an additional 105 shares in the last quarter. Creative Planning grew its holdings in Ameriprise Financial by 1.6% during the 3rd quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock valued at $10,604,000 after buying an additional 348 shares in the last quarter. Asset Dedication LLC raised its position in shares of Ameriprise Financial by 74.3% during the third quarter. Asset Dedication LLC now owns 176 shares of the financial services provider’s stock valued at $83,000 after buying an additional 75 shares during the last quarter. Finally, Bfsg LLC lifted its holdings in shares of Ameriprise Financial by 13.1% in the third quarter. Bfsg LLC now owns 4,477 shares of the financial services provider’s stock worth $2,103,000 after buying an additional 520 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMP shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley lifted 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. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upped 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $510.44.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Trading Down 0.4 %

Shares of AMP opened at $526.80 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. 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 company’s fifty day simple moving average is $542.68 and its 200-day simple moving average is $504.00. The company has a market cap of $51.11 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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, analysts expect that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

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.