23,748 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Acquired by Fisher Funds Management LTD

Fisher Funds Management LTD purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 23,748 shares of the financial services provider’s stock, valued at approximately $12,623,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at approximately $36,000. Golden State Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at approximately $38,000. Albion Financial Group UT acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at approximately $46,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at approximately $45,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 6,000 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 in the last three months. 0.73% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on AMP. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. 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. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $530.18 on Friday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve 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. The company has a market capitalization of $51.43 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36. The business has a 50 day simple moving average of $540.50 and a 200-day simple moving average of $510.44.

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

Ameriprise Financial Announces Dividend

The business 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 dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. Ameriprise Financial’s payout ratio is currently 17.91%.

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.