Alley Investment Management Company LLC Purchases 507 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Alley Investment Management Company LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,388 shares of the financial services provider’s stock after acquiring an additional 507 shares during the quarter. Ameriprise Financial accounts for about 3.8% of Alley Investment Management Company LLC’s holdings, making the stock its 3rd largest position. Alley Investment Management Company LLC owned approximately 0.06% of Ameriprise Financial worth $30,023,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Howard Capital Management Group LLC increased its stake in Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after buying an additional 178 shares during the period. Stephens Inc. AR increased its stake in Ameriprise Financial by 4.6% in the 3rd quarter. Stephens Inc. AR now owns 2,145 shares of the financial services provider’s stock valued at $1,008,000 after buying an additional 94 shares during the period. Farther Finance Advisors LLC increased its stake in Ameriprise Financial by 10.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 977 shares of the financial services provider’s stock valued at $459,000 after buying an additional 94 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Ameriprise Financial in the 3rd quarter valued at approximately $219,000. Finally, Janney Montgomery Scott LLC increased its stake in Ameriprise Financial by 26.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 25,243 shares of the financial services provider’s stock valued at $11,859,000 after buying an additional 5,271 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $531.61 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a fifty day simple moving average of $539.80 and a 200 day simple moving average of $516.28. The company has a market cap of $51.10 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.15 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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%. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the 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 completion of the sale, 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 sale 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 the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on AMP shares. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on shares of 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, 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $510.44.

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.