Van ECK Associates Corp Purchases 5,919 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Van ECK Associates Corp boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 35.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,539 shares of the financial services provider’s stock after purchasing an additional 5,919 shares during the quarter. Van ECK Associates Corp’s holdings in Ameriprise Financial were worth $12,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter worth $30,000. Oakworth Capital Inc. bought a new position in Ameriprise Financial in the 3rd quarter worth 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 bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $38,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Ameriprise Financial during the third quarter worth about $45,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

NYSE AMP opened at $546.69 on Friday. The firm has a market cap of $53.03 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.18 and a beta of 1.36. The company has a 50-day simple moving average of $541.20 and a two-hundred day simple moving average of $505.21. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

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

Ameriprise Financial Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred 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 directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.