Avestar Capital LLC Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Avestar Capital LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, Holdings Channel.com reports. The fund bought 652 shares of the financial services provider’s stock, valued at approximately $347,000.

Several other institutional investors and hedge funds have also bought and sold shares of AMP. Exchange Traded Concepts LLC purchased a new position in Ameriprise Financial in the third quarter worth about $108,000. Creative Planning lifted its position in shares of 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 lifted its position in shares of Ameriprise Financial by 74.3% during the 3rd 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 in the last quarter. Bfsg LLC lifted its position in shares of Ameriprise Financial by 13.1% during the 3rd quarter. Bfsg LLC now owns 4,477 shares of the financial services provider’s stock valued at $2,103,000 after buying an additional 520 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of Ameriprise Financial by 8.8% during the 3rd quarter. Global Retirement Partners LLC now owns 3,732 shares of the financial services provider’s stock valued at $1,753,000 after buying an additional 301 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on AMP shares. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $510.44.

Insider Activity

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 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 owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $546.69 on Friday. The company has a market capitalization of $53.03 billion, a PE ratio of 16.54, a P/E/G ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The company has a 50-day simple moving average of $541.49 and a two-hundred day simple moving average of $504.41. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

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

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

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.