Prime Capital Investment Advisors LLC Buys New Shares in Ameriprise Financial, Inc. (NYSE:AMP)

Prime Capital Investment Advisors LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 935 shares of the financial services provider’s stock, valued at approximately $355,000.

A number of other large investors also recently modified their holdings of AMP. Fairfield Bush & CO. purchased a new position in shares of Ameriprise Financial during the 1st quarter valued at $53,000. Synovus Financial Corp lifted its stake in Ameriprise Financial by 2.9% in the 1st quarter. Synovus Financial Corp now owns 1,961 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 56 shares in the last quarter. Aviva PLC lifted its stake in Ameriprise Financial by 23.7% in the 1st quarter. Aviva PLC now owns 45,024 shares of the financial services provider’s stock worth $13,523,000 after purchasing an additional 8,625 shares in the last quarter. Prudential PLC purchased a new stake in Ameriprise Financial in the 1st quarter worth $724,000. Finally, Cetera Investment Advisers lifted its stake in Ameriprise Financial by 62.5% in the 1st quarter. Cetera Investment Advisers now owns 2,900 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 1,115 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $4,832,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $4,832,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the sale, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock worth $35,560,647 in the last three months. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on AMP shares. Evercore ISI boosted their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, UBS Group boosted their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $441.00.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $413.70 on Friday. The company has a market capitalization of $41.45 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.70 and a beta of 1.36. Ameriprise Financial, Inc. has a 12 month low of $279.85 and a 12 month high of $440.67. The firm’s 50-day moving average is $414.84 and its 200 day moving average is $374.70. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating the consensus estimate of $7.67 by $0.08. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.94 EPS. Research analysts predict that Ameriprise Financial, Inc. will post 34.54 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.40 annualized dividend and a yield of 1.31%. Ameriprise Financial’s payout ratio is 22.78%.

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.