SVB Wealth LLC Acquires Shares of 8,055 Ameriprise Financial, Inc. (NYSE:AMP)

SVB Wealth LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,055 shares of the financial services provider’s stock, valued at approximately $4,289,000.

Several other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial during the 4th quarter valued at $30,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $36,000. Golden State Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at $38,000. Finally, Albion Financial Group UT acquired a new position in Ameriprise Financial during the fourth quarter valued at $46,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial 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 transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $537.77 on Friday. The firm has a market cap of $51.69 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The company’s fifty day moving average is $539.85 and its 200-day moving average is $514.85. The company has a quick ratio of 0.59, 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 earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Analyst Ratings Changes

AMP has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $510.44.

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.