Impact Investors Inc Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Impact Investors Inc purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,200 shares of the financial services provider’s stock, valued at approximately $1,704,000. Ameriprise Financial accounts for approximately 1.3% of Impact Investors Inc’s investment portfolio, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Howard Capital Management Group LLC raised its stake in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Ameriprise Financial by 10.5% during the third quarter. Private Advisor Group LLC now owns 6,417 shares of the financial services provider’s stock worth $3,015,000 after buying an additional 612 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Ameriprise Financial by 3.9% in the third quarter. Arkadios Wealth Advisors now owns 1,267 shares of the financial services provider’s stock valued at $595,000 after buying an additional 48 shares in the last quarter. PFG Investments LLC lifted its position in shares of Ameriprise Financial by 12.4% during the 3rd quarter. PFG Investments LLC now owns 1,328 shares of the financial services provider’s stock valued at $624,000 after acquiring an additional 146 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Ameriprise Financial by 9.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 32,237 shares of the financial services provider’s stock worth $15,145,000 after acquiring an additional 2,708 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, 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 report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $521.85 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average price of $539.71 and a 200 day moving average price of $513.01. The company has a market cap of $50.16 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.15 and a beta of 1.36. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of the company’s 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 sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 in the last ninety days. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Company 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.