Hopwood Financial Services Inc. Acquires New Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Hopwood Financial Services Inc. acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 165 shares of the financial services provider’s stock, valued at approximately $88,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $28,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $30,000. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $36,000. Finally, SRS Capital Advisors Inc. increased its stake in Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 20 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the 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 directly owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $480.61 on Thursday. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a market cap of $46.19 billion, a PE ratio of 14.54, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The business has a 50-day simple moving average of $533.72 and a 200-day simple moving average of $518.54.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Analysts Set New Price Targets

A number of analysts have issued reports on AMP shares. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, UBS Group lowered shares of 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 research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $514.89.

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.