52 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by Rialto Wealth Management LLC

Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, Holdings Channel.com reports. The fund acquired 52 shares of the financial services provider’s stock, valued at approximately $28,000.

Other institutional investors have also added to or reduced their stakes in the company. Banco Santander S.A. purchased a new position in shares of Ameriprise Financial in the fourth quarter worth $988,000. Aviance Capital Partners LLC increased its holdings in Ameriprise Financial by 1.7% in the 4th quarter. Aviance Capital Partners LLC now owns 6,100 shares of the financial services provider’s stock worth $3,248,000 after buying an additional 100 shares in the last quarter. Callan Family Office LLC purchased a new position in Ameriprise Financial in the 4th quarter worth about $2,084,000. Candriam S.C.A. lifted its stake in Ameriprise Financial by 17.3% during the 4th quarter. Candriam S.C.A. now owns 105,911 shares of the financial services provider’s stock valued at $56,390,000 after acquiring an additional 15,611 shares during the period. Finally, Blue Barn Wealth LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $212,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on AMP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. One equities research 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. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Stock Down 0.7 %

Shares of NYSE AMP opened at $499.28 on Monday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm has a 50-day simple moving average of $536.85 and a two-hundred day simple moving average of $518.21. The company has a market cap of $47.99 billion, a P/E ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

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 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 anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by corporate insiders.

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.