Horizon Investments LLC Purchases 22 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Horizon Investments LLC increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,602 shares of the financial services provider’s stock after purchasing an additional 22 shares during the period. Horizon Investments LLC’s holdings in Ameriprise Financial were worth $851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. TCTC Holdings LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at $28,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial in the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at $36,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. 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 quarter. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Trading Up 2.1 %

Shares of AMP opened at $499.03 on Thursday. The business has a 50-day moving average of $529.32 and a 200 day moving average of $520.13. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market cap of $47.97 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. 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 data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

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 $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Morgan Stanley raised their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $514.89.

Ameriprise Financial 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.