Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Accurate Wealth Management LLC

Accurate Wealth Management LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1,067.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,545 shares of the financial services provider’s stock after acquiring an additional 5,070 shares during the period. Accurate Wealth Management LLC’s holdings in Ameriprise Financial were worth $2,858,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMP. Geller Advisors LLC raised its holdings in Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after buying an additional 19 shares during the period. Legacy Capital Wealth Partners LLC increased its position in shares of Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 20 shares during the last quarter. Ledyard National Bank raised its stake in shares of Ameriprise Financial by 3.2% in the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 23 shares during the period. Heartland Bank & Trust Co lifted its holdings in shares of Ameriprise Financial by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 24 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its holdings in shares of Ameriprise Financial by 2.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 24 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

AMP stock opened at $526.21 on Wednesday. Ameriprise Financial, Inc. has a 1 year low of $368.41 and a 1 year high of $577.00. The firm has a market capitalization of $51.05 billion, a P/E ratio of 20.20, a P/E/G ratio of 0.96 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The business’s 50-day moving average is $549.04 and its two-hundred day moving average is $487.35.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.13%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on AMP shares. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. UBS Group downgraded 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 research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $494.89.

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.