Harfst & Associates Inc. Increases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Harfst & Associates Inc. grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% during the 4th quarter, HoldingsChannel reports. The fund owned 4,846 shares of the financial services provider’s stock after purchasing an additional 269 shares during the period. Harfst & Associates Inc.’s holdings in Ameriprise Financial were worth $2,580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial in the 4th quarter worth about $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the 4th quarter worth about $30,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the 4th quarter worth about $36,000. Golden State Wealth Management LLC purchased a new position in Ameriprise Financial in the 4th quarter worth about $38,000. Finally, Albion Financial Group UT purchased a new position in Ameriprise Financial in the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

Ameriprise Financial Trading Up 0.6 %

NYSE AMP opened at $525.33 on Thursday. 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 firm has a market cap of $50.49 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The company has a 50 day moving average price of $539.74 and a 200 day moving average price of $513.10. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 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%. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 1.13%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were 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. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.96% of the company’s stock.

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.