Plancorp LLC Purchases New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Plancorp LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 421 shares of the financial services provider’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp boosted its position in shares of Ameriprise Financial by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 327 shares during the period. Czech National Bank boosted its position in shares of Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after purchasing an additional 1,033 shares during the period. Bridgewater Associates LP boosted its position in shares of Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $43,000. Finally, Benjamin Edwards Inc. boosted its position in shares of Ameriprise Financial by 1,261.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider’s stock valued at $550,000 after purchasing an additional 1,085 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred 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 owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMP has been the subject of a number of research reports. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. 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. Keefe, Bruyette & Woods raised their price objective 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. Morgan Stanley raised their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Trading Up 0.1 %

Shares of NYSE AMP opened at $493.41 on Friday. The stock has a market cap of $47.43 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.15 and a beta of 1.33. The business has a 50 day simple moving average of $528.03 and a 200 day simple moving average of $520.79. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. 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 announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.20%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

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.