Millstone Evans Group LLC Purchases New Position in Ameriprise Financial, Inc. (NYSE:AMP)

Millstone Evans Group LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 88 shares of the financial services provider’s stock, valued at approximately $47,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Proficio Capital Partners LLC increased its stake in Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after buying an additional 371,306 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after buying an additional 358,699 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after buying an additional 338,298 shares in the last quarter. Amundi increased its stake in Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock worth $343,546,000 after buying an additional 208,195 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Ameriprise Financial during the 4th quarter worth approximately $108,620,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial Trading Up 0.1 %

AMP opened at $493.41 on Monday. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The stock has a market capitalization of $47.43 billion, a PE ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33. The business’s 50 day moving average price is $528.03 and its 200 day moving average price is $521.34. 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 released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS 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 year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, 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 sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

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.