Wingate Wealth Advisors Inc. Acquires New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, Holdings Channel.com reports. The firm bought 56 shares of the financial services provider’s stock, valued at approximately $30,000.

Other hedge funds have also recently bought and sold shares of the company. Czech National Bank boosted its stake in shares of Ameriprise Financial by 5.2% during the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after acquiring an additional 1,033 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after purchasing an additional 24,968 shares during the last quarter. Empowered Funds LLC boosted its position in Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 1,329 shares during the period. SpiderRock Advisors LLC grew its holdings in Ameriprise Financial by 136.3% during the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after purchasing an additional 1,867 shares during the last quarter. Finally, Aljian Capital Management LLC acquired a new position in Ameriprise Financial during the third quarter valued at approximately $458,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the company’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 directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMP shares. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler raised their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Trading Down 0.1 %

Shares of AMP opened at $528.72 on Wednesday. The stock’s 50-day moving average price is $543.42 and its 200 day moving average price is $503.37. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $51.29 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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, research analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

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.