Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Private Trust Co. NA

Private Trust Co. NA lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.0% in the fourth quarter, Holdings Channel reports. The firm owned 896 shares of the financial services provider’s stock after buying an additional 26 shares during the period. Private Trust Co. NA’s holdings in Ameriprise Financial were worth $477,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMP. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial in the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the 4th quarter worth $30,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the 4th quarter worth $36,000. Golden State Wealth Management LLC purchased a new position in Ameriprise Financial in the 4th quarter worth $38,000. Finally, Peterson Financial Group Inc. purchased a new position in Ameriprise Financial in the 3rd quarter worth $45,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE AMP opened at $537.77 on Monday. The stock has a 50-day simple moving average of $539.85 and a two-hundred day simple moving average of $515.52. The firm has a market capitalization of $51.69 billion, a P/E ratio of 16.27, a PEG ratio of 1.15 and a beta of 1.36. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

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

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial 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 owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This represents a 29.97 % 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 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $510.44.

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.