Amplius Wealth Advisors LLC Makes New $216,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Amplius Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 406 shares of the financial services provider’s stock, valued at approximately $216,000.

Other hedge funds have also recently modified their holdings of the company. Oakworth Capital Inc. bought a new stake in Ameriprise Financial during the third quarter worth about $31,000. Country Trust Bank boosted its position in shares of Ameriprise Financial by 213.6% in the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Ameriprise Financial in the 3rd quarter worth approximately $45,000. Friedenthal Financial bought a new position in Ameriprise Financial during the 4th quarter valued at approximately $58,000. Finally, Trifecta Capital Advisors LLC raised its stake in Ameriprise Financial by 31.4% during the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after buying an additional 33 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction 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 transaction, the chief financial officer now owns 6,409 shares in the company, 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 have sold 21,715 shares of company stock worth $11,983,436 in the last quarter. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

AMP stock opened at $551.61 on Tuesday. The company has a market cap of $53.51 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 0.78 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. Ameriprise Financial, Inc. has a 1 year low of $369.29 and a 1 year high of $577.00. The stock’s fifty day moving average price is $548.42 and its 200-day moving average price is $489.76.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is currently 22.73%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMP. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, The Goldman Sachs Group downgraded 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 note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have assigned 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 an average 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.