BTC Capital Management Inc. Buys 2,149 Shares of Ameriprise Financial, Inc. $AMP

BTC Capital Management Inc. lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,559 shares of the financial services provider’s stock after purchasing an additional 2,149 shares during the quarter. BTC Capital Management Inc.’s holdings in Ameriprise Financial were worth $6,643,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AMP. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $30,000. Heartwood Wealth Advisors LLC bought a new position in Ameriprise Financial during the third quarter valued at $32,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the third quarter valued at $32,000. WFA of San Diego LLC purchased a new stake in shares of Ameriprise Financial in the second quarter valued at $36,000. Finally, Salomon & Ludwin LLC lifted its holdings in shares of Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the transaction, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 16,658 shares of company stock valued at $8,998,675. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Up 1.2%

Shares of AMP opened at $443.62 on Wednesday. The firm has a fifty day moving average price of $476.15 and a 200-day moving average price of $479.39. 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 $40.45 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.02 and a beta of 1.27. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $555.67.

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.