Coastline Trust Co Purchases Shares of 1,300 Ameriprise Financial, Inc. $AMP

Coastline Trust Co bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,300 shares of the financial services provider’s stock, valued at approximately $637,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Holos Integrated Wealth LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $30,000. Hudson Bay Capital Management LP acquired a new position in Ameriprise Financial during the 3rd quarter valued at $251,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Ameriprise Financial in the third quarter valued at about $693,000. Swiss Life Asset Management Ltd increased its stake in Ameriprise Financial by 40.4% during the third quarter. Swiss Life Asset Management Ltd now owns 35,287 shares of the financial services provider’s stock valued at $17,335,000 after acquiring an additional 10,152 shares during the period. Finally, Investment Research Partners LLC acquired a new position in Ameriprise Financial in the 3rd quarter valued at approximately $357,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,658 shares of company stock worth $8,998,675. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMP shares. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Morgan Stanley raised their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued 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 upped their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $434.00 to $530.00 in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Price Performance

AMP opened at $433.90 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $39.56 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.27. The company’s 50 day simple moving average is $486.03 and its 200-day simple moving average is $482.92. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the business earned $9.54 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

Ameriprise Financial Company 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.