Nations Financial Group Inc. IA ADV Increases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Nations Financial Group Inc. IA ADV grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,606 shares of the financial services provider’s stock after purchasing an additional 199 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Ameriprise Financial were worth $2,985,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AMP. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $30,000. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $31,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $36,000. Golden State Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $38,000. Finally, Albion Financial Group UT purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $46,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 1.3 %

AMP opened at $546.69 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average price of $541.49 and a two-hundred day moving average price of $504.41. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a market cap of $53.03 billion, a PE ratio of 16.54, a P/E/G ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its earnings results 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 return on equity of 69.35% and a net margin of 19.70%. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. This represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

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.