Vestmark Advisory Solutions Inc. Invests $1.09 Million in Ameriprise Financial, Inc. $AMP

Vestmark Advisory Solutions Inc. bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,220 shares of the financial services provider’s stock, valued at approximately $1,091,000.

Several other institutional investors have also added to or reduced their stakes in the company. Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial during the second quarter worth $32,000. Heartwood Wealth Advisors LLC bought a new position in Ameriprise Financial during the third quarter worth about $32,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 3rd quarter valued at about $32,000. WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $36,000. Finally, Hantz Financial Services Inc. lifted its position in Ameriprise Financial by 60.4% during the second quarter. Hantz Financial Services Inc. now owns 85 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 32 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $434.00 to $530.00 in a report on Friday, January 30th. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Stock Up 2.6%

Shares of AMP opened at $478.33 on Thursday. The firm has a fifty day moving average price of $499.42 and a 200-day moving average price of $488.89. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $43.61 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.09 and a beta of 1.26. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $9.54 EPS. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is presently 17.60%.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock valued at $8,998,675 in the last three months. 0.73% of the stock is owned by insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.