New Age Alpha Advisors LLC Has $4.17 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

New Age Alpha Advisors LLC grew its position in Ameriprise Financial, Inc. (NYSE:AMP) by 21,672.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,838 shares of the financial services provider’s stock after purchasing an additional 7,802 shares during the period. New Age Alpha Advisors LLC’s holdings in Ameriprise Financial were worth $4,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. Norges Bank acquired a new stake in Ameriprise Financial during the 4th quarter worth $689,272,000. NEOS Investment Management LLC increased its holdings in shares of Ameriprise Financial by 29.9% in the fourth quarter. NEOS Investment Management LLC now owns 5,399 shares of the financial services provider’s stock worth $2,875,000 after acquiring an additional 1,243 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after acquiring an additional 516,437 shares in the last quarter. Elo Mutual Pension Insurance Co acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $5,543,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ameriprise Financial by 7.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 155,093 shares of the financial services provider’s stock valued at $83,105,000 after purchasing an additional 11,161 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on AMP shares. UBS Group downgraded 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 report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price 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. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, Piper Sandler boosted their price target on 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 given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $514.89.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Trading Down 3.4 %

Ameriprise Financial stock opened at $481.64 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a 50-day moving average of $524.55 and a 200-day moving average of $522.43. The company has a market cap of $46.29 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted 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%. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. Ameriprise Financial’s payout ratio is 17.91%.

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.