Polymer Capital Management US LLC Invests $825,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Polymer Capital Management US LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,550 shares of the financial services provider’s stock, valued at approximately $825,000.

Several other large investors have also modified their holdings of AMP. Howard Capital Management Group LLC grew its position in shares of Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Ameriprise Financial by 1,261.6% in the third 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. Janus Henderson Group PLC lifted its holdings in shares of Ameriprise Financial by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 11,524 shares of the financial services provider’s stock valued at $5,416,000 after buying an additional 324 shares during the period. IHT Wealth Management LLC grew its stake in shares of Ameriprise Financial by 71.4% during the 3rd quarter. IHT Wealth Management LLC now owns 1,047 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 436 shares during the period. Finally, Morse Asset Management Inc purchased a new position in Ameriprise Financial in the third quarter valued at about $940,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 7.5 %

AMP stock opened at $421.61 on Monday. The company has a market capitalization of $40.52 billion, a P/E ratio of 12.75, a PEG ratio of 1.15 and a beta of 1.23. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm has a 50 day simple moving average of $515.46 and a 200-day simple moving average of $524.51.

Ameriprise Financial (NYSE:AMP) last issued its 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 return on equity of 69.35% and a net margin of 19.70%. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. This represents a 9.09 % 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 0.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley lifted their price target 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 decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler upped their price target 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. 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 report on Monday, February 3rd. Finally, 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. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $514.89.

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.