Aviso Wealth Management Takes $217,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Aviso Wealth Management purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 408 shares of the financial services provider’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC boosted its holdings in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Ameriprise Financial by 11.1% during the third quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider’s stock valued at $887,000 after purchasing an additional 188 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Ameriprise Financial by 2.5% in the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 24 shares in the last quarter. Kingsview Wealth Management LLC raised its position in Ameriprise Financial by 1.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 2,857 shares of the financial services provider’s stock worth $1,342,000 after purchasing an additional 49 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Ameriprise Financial by 15.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,329 shares of the financial services provider’s stock worth $625,000 after buying an additional 179 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the company’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 completion of the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction 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. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 in the last ninety days. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $512.01 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 50 day moving average of $527.56 and a 200-day moving average of $522.40. The stock has a market capitalization of $49.21 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its quarterly 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%. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AMP shares. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler boosted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $514.89.

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.