Keel Point LLC Purchases 108 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Keel Point LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 10.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,143 shares of the financial services provider’s stock after purchasing an additional 108 shares during the period. Keel Point LLC’s holdings in Ameriprise Financial were worth $434,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMP. OFI Invest Asset Management bought a new stake in Ameriprise Financial in the 3rd quarter worth about $25,000. Financial Freedom LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $27,000. Carmel Capital Partners LLC bought a new position in Ameriprise Financial in the 3rd quarter worth approximately $30,000. FinTrust Capital Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $34,000. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AMP shares. Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. UBS Group increased their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Piper Sandler increased their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Evercore ISI increased their target price 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, April 11th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $441.00.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,161 shares of company stock valued at $35,560,647. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $411.18 on Tuesday. The firm’s fifty day moving average price is $415.27 and its 200-day moving average price is $375.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $41.20 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating the consensus estimate of $7.67 by $0.08. The firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $6.94 EPS. On average, equities research analysts expect that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced 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. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio is currently 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.