Elo Mutual Pension Insurance Co Buys New Position in Ameriprise Financial, Inc. (NYSE:AMP)

Elo Mutual Pension Insurance Co purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 10,411 shares of the financial services provider’s stock, valued at approximately $5,543,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMP. Geller Advisors LLC boosted its stake in shares of Ameriprise Financial by 2.2% in the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 19 shares during the period. Cerro Pacific Wealth Advisors LLC lifted its holdings in Ameriprise Financial by 3.4% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock worth $307,000 after buying an additional 19 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after buying an additional 20 shares during the last quarter. Dakota Wealth Management grew its stake in shares of Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 21 shares in the last quarter. Finally, Abel Hall LLC increased its position in shares of Ameriprise Financial by 4.2% during the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 over the last three months. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Trading Down 1.2 %

Ameriprise Financial stock opened at $499.19 on Friday. 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, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm’s 50-day moving average is $525.95 and its 200-day moving average is $522.12. The company has a market cap of $47.98 billion, a P/E ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current 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 dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. Ameriprise Financial’s payout ratio is currently 17.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMP shares. UBS Group lowered 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 note on Monday, January 6th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods increased their price objective 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. Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $514.89.

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.