71 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 71 shares of the financial services provider’s stock, valued at approximately $38,000.

A number of other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after buying an additional 358,699 shares during the period. Geode Capital Management LLC lifted its position in shares of Ameriprise Financial by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after acquiring an additional 31,158 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after acquiring an additional 338,298 shares during the period. Maj Invest Holding A S grew its position in shares of Ameriprise Financial by 67.5% during the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock worth $187,466,000 after purchasing an additional 141,927 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Ameriprise Financial by 3.8% during the third quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider’s stock worth $116,603,000 after purchasing an additional 8,989 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $528.72 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock’s fifty day moving average is $543.42 and its two-hundred day moving average is $503.37. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a market capitalization of $51.29 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Analysts Set New Price Targets

AMP has been the topic of several recent analyst reports. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. One investment 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’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $510.44.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by company insiders.

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.