Todd Asset Management LLC Acquires 1,544 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Todd Asset Management LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 100,786 shares of the financial services provider’s stock after purchasing an additional 1,544 shares during the quarter. Ameriprise Financial accounts for 1.3% of Todd Asset Management LLC’s holdings, making the stock its 18th biggest holding. Todd Asset Management LLC’s holdings in Ameriprise Financial were worth $53,661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at $30,000. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at $36,000. Golden State Wealth Management LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $38,000. Peterson Financial Group Inc. purchased a new position in Ameriprise Financial in the third quarter valued at about $45,000. Finally, Albion Financial Group UT purchased a new position in Ameriprise Financial in the fourth quarter valued at about $46,000. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. 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 report on Monday, January 6th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $510.44.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated 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 owns 14,023 shares of the company’s stock, 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, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 over the last three months. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Trading Up 0.1 %

AMP opened at $530.88 on Tuesday. The company has a market cap of $51.03 billion, a P/E ratio of 16.06, a PEG ratio of 1.15 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The business’s 50-day simple moving average is $540.11 and its 200-day simple moving average is $512.19. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

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.