Cavalier Investments LLC Purchases 96 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Cavalier Investments LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,713 shares of the financial services provider’s stock after purchasing an additional 96 shares during the quarter. Cavalier Investments LLC’s holdings in Ameriprise Financial were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $30,000. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $36,000. Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $38,000. Albion Financial Group UT bought a new position in shares of Ameriprise Financial during the fourth quarter worth $46,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Ameriprise Financial during the third quarter worth $45,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Down 1.7 %

Shares of AMP opened at $521.85 on Wednesday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a market cap of $50.16 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.15 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $539.71 and its 200-day simple moving average is $513.01.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared 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. This represents a $5.92 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were 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 $3,901,249.59. This trade represents a 39.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last 90 days. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial 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’s stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $510.44.

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.