Quartz Partners LLC Acquires 346 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Quartz Partners LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,024 shares of the financial services provider’s stock after acquiring an additional 346 shares during the period. Ameriprise Financial comprises about 2.0% of Quartz Partners LLC’s portfolio, making the stock its 10th biggest position. Quartz Partners LLC’s holdings in Ameriprise Financial were worth $3,207,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $30,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth about $36,000. Golden State Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $38,000. Peterson Financial Group Inc. bought a new position in shares of Ameriprise Financial in the third quarter worth $45,000. Finally, Albion Financial Group UT purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth $46,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 2.0 %

Shares of AMP opened at $530.18 on Monday. The firm has a fifty day simple moving average of $540.50 and a two-hundred day simple moving average of $511.27. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The stock has a market capitalization of $51.43 billion, a P/E ratio of 16.04, a PEG ratio of 1.17 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMP shares. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Piper Sandler lifted 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $510.44.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s 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 of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last quarter. 0.73% of the stock is owned by corporate insiders.

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.