Amplius Wealth Advisors LLC Invests $216,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Amplius Wealth Advisors LLC bought a new position in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, Holdings Channel.com reports. The fund bought 406 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the last quarter. Maj Invest Holding A S bought a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $98,742,000. Assenagon Asset Management S.A. grew its position in shares of Ameriprise Financial by 816.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after purchasing an additional 195,271 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after purchasing an additional 143,648 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Ameriprise Financial in the third quarter worth about $456,890,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,715 shares of company stock worth $11,983,436. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Trading Up 0.9 %

AMP opened at $551.61 on Tuesday. Ameriprise Financial, Inc. has a one year low of $369.29 and a one year high of $577.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $53.51 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36. The stock’s 50 day moving average price is $548.42 and its 200-day moving average price is $489.76.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.07%. Ameriprise Financial’s payout ratio is 22.73%.

Analysts Set New Price Targets

Several research firms have weighed in on AMP. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $494.89.

Ameriprise Financial Company 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.