Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Focus Financial Network Inc.

Focus Financial Network Inc. lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,258 shares of the financial services provider’s stock after acquiring an additional 28 shares during the quarter. Focus Financial Network Inc.’s holdings in Ameriprise Financial were worth $670,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $108,000. Wesbanco Bank Inc. grew its holdings in Ameriprise Financial by 9.9% during the third quarter. Wesbanco Bank Inc. now owns 1,169 shares of the financial services provider’s stock worth $549,000 after acquiring an additional 105 shares during the period. Creative Planning raised its position in Ameriprise Financial by 1.6% in the third quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock worth $10,604,000 after acquiring an additional 348 shares in the last quarter. Asset Dedication LLC lifted its holdings in Ameriprise Financial by 74.3% in the third quarter. Asset Dedication LLC now owns 176 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 75 shares during the period. Finally, Bfsg LLC boosted 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 worth $2,103,000 after purchasing an additional 520 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, 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. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $526.80 on Thursday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a market capitalization of $51.11 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.18 and a beta of 1.36. The stock has a fifty day moving average of $542.68 and a two-hundred day moving average of $504.00. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data 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%. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 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. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

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.