Fisher Asset Management LLC Invests $214,000 in Ameriprise Financial, Inc. (NYSE:AMP)

Fisher Asset Management LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 402 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank raised its position in Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after acquiring an additional 1,033 shares in the last quarter. Empowered Funds LLC raised its position in Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after acquiring an additional 1,329 shares in the last quarter. Bridgewater Associates LP raised its position in shares of Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares during the period. SpiderRock Advisors LLC raised its position in shares of Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after purchasing an additional 1,867 shares during the period. Finally, Aljian Capital Management LLC bought a new position in shares of Ameriprise Financial in the third quarter valued at about $458,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Down 0.7 %

Shares of Ameriprise Financial stock opened at $499.28 on Friday. The firm’s 50-day moving average price is $536.85 and its two-hundred day moving average price is $517.62. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $47.99 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.19%. Ameriprise Financial’s payout ratio is currently 17.91%.

Insider Activity

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMP. Piper Sandler increased their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley upped their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. 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. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial 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.