Pinnacle Financial Partners Inc Buys 32 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Pinnacle Financial Partners Inc boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,116 shares of the financial services provider’s stock after purchasing an additional 32 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Ameriprise Financial were worth $594,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AMP. Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial in the fourth quarter valued at $30,000. Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at $36,000. Golden State Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $38,000. Peterson Financial Group Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $45,000. Finally, Albion Financial Group UT bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $46,000. Institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated 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 directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMP. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. 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 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $530.18 on Monday. The stock has a market cap of $51.43 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.17 and a beta of 1.36. The firm’s 50-day moving average is $540.50 and its 200 day moving average is $511.27. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

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

Ameriprise Financial Dividend Announcement

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