J.W. Cole Advisors Inc. Boosts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

J.W. Cole Advisors Inc. grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 755 shares of the financial services provider’s stock after purchasing an additional 65 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Ameriprise Financial were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMP. Csenge Advisory Group grew its position in Ameriprise Financial by 5.2% during the fourth quarter. Csenge Advisory Group now owns 794 shares of the financial services provider’s stock valued at $423,000 after buying an additional 39 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $10,066,000. Principal Securities Inc. increased its stake in shares of Ameriprise Financial by 3.0% during the 4th quarter. Principal Securities Inc. now owns 4,843 shares of the financial services provider’s stock worth $2,579,000 after purchasing an additional 141 shares during the last quarter. TigerOak Management L.L.C. purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $883,000. Finally, Manchester Capital Management LLC lifted its stake in Ameriprise Financial by 1.3% in the fourth quarter. Manchester Capital Management LLC now owns 3,992 shares of the financial services provider’s stock valued at $2,126,000 after purchasing an additional 50 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 1.5 %

Shares of Ameriprise Financial stock opened at $540.95 on Friday. The company’s 50-day moving average price is $541.02 and its 200-day moving average price is $508.46. The company has a market cap of $52.48 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.19 and a beta of 1.36. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP – Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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%. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm 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 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AMP shares. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their price objective 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $510.44.

View Our Latest Report on AMP

About Ameriprise Financial

(Free Report)

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.

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