545 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by DRW Securities LLC

DRW Securities LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 545 shares of the financial services provider’s stock, valued at approximately $290,000.

Other hedge funds have also made changes to their positions in the company. Martingale Asset Management L P lifted its holdings in shares of Ameriprise Financial by 0.5% in the 4th quarter. Martingale Asset Management L P now owns 13,374 shares of the financial services provider’s stock worth $7,121,000 after acquiring an additional 65 shares during the last quarter. APG Asset Management N.V. purchased a new stake in Ameriprise Financial in the fourth quarter valued at approximately $27,457,000. Advisory Services Network LLC lifted its stake in Ameriprise Financial by 7.6% during the fourth quarter. Advisory Services Network LLC now owns 8,599 shares of the financial services provider’s stock worth $4,578,000 after purchasing an additional 608 shares in the last quarter. Applied Finance Capital Management LLC boosted its position in shares of Ameriprise Financial by 0.3% during the fourth quarter. Applied Finance Capital Management LLC now owns 96,348 shares of the financial services provider’s stock worth $51,299,000 after buying an additional 281 shares during the period. Finally, Polymer Capital Management US LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $825,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler increased their target price 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. Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating on the stock in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, 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 report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $510.20.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $456.70 on Friday. The firm has a market capitalization of $43.90 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.15 and a beta of 1.23. 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 52 week low of $385.74 and a 52 week high of $582.05. The firm’s 50 day moving average is $502.39 and its two-hundred day moving average is $523.02.

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, 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%. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared 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 of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.30%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last quarter. Company insiders own 0.73% of the company’s stock.

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.