Essex Financial Services Inc. Purchases 31 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Essex Financial Services Inc. grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.3% in the 4th quarter, Holdings Channel reports. The firm owned 748 shares of the financial services provider’s stock after acquiring an additional 31 shares during the quarter. Essex Financial Services Inc.’s holdings in Ameriprise Financial were worth $398,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. grew its position in shares of Ameriprise Financial by 2.3% during the 4th quarter. Focus Financial Network Inc. now owns 1,258 shares of the financial services provider’s stock worth $670,000 after buying an additional 28 shares during the period. Summit Trail Advisors LLC grew its position in Ameriprise Financial by 10.4% in the 4th quarter. Summit Trail Advisors LLC now owns 911 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 86 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the 4th quarter valued at $30,000. Savant Capital LLC grew its position in Ameriprise Financial by 0.8% in the 4th quarter. Savant Capital LLC now owns 6,717 shares of the financial services provider’s stock valued at $3,576,000 after purchasing an additional 54 shares during the period. Finally, Wealthstar Advisors LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $286,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Morgan Stanley lifted 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial 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, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Trading Up 2.6 %

NYSE AMP opened at $540.66 on Friday. The stock has a market capitalization of $52.45 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The business’s fifty day moving average is $541.99 and its 200-day moving average is $504.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Equities research analysts predict that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

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.