Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Lifted by Parallel Advisors LLC

Parallel Advisors LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,292 shares of the financial services provider’s stock after buying an additional 121 shares during the period. Parallel Advisors LLC’s holdings in Ameriprise Financial were worth $2,285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. WealthTrust Asset Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $816,000. one8zero8 LLC bought a new position in Ameriprise Financial during the 4th quarter worth $234,000. Choate Investment Advisors increased its position in Ameriprise Financial by 1.3% in the fourth quarter. Choate Investment Advisors now owns 14,072 shares of the financial services provider’s stock worth $7,492,000 after buying an additional 181 shares during the period. Frank Rimerman Advisors LLC lifted its stake in Ameriprise Financial by 4.9% in the fourth quarter. Frank Rimerman Advisors LLC now owns 1,789 shares of the financial services provider’s stock valued at $953,000 after buying an additional 84 shares during the last quarter. Finally, Harbour Investment Management LLC boosted its holdings in shares of Ameriprise Financial by 25.3% during the fourth quarter. Harbour Investment Management LLC now owns 752 shares of the financial services provider’s stock valued at $400,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of analyst reports. Piper Sandler increased their price objective 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 lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Morgan Stanley raised their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Stock Performance

Shares of AMP opened at $489.01 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm’s 50 day moving average is $530.03 and its 200-day moving average is $520.27. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The stock has a market capitalization of $47.00 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.15 and a beta of 1.33.

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, beating 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%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is 17.91%.

Insider Buying and Selling

In other 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 transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by corporate insiders.

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.