Cobblestone Capital Advisors LLC NY Makes New $204,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Cobblestone Capital Advisors LLC NY bought a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 383 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $4,289,000. Illumine Investment Management LLC bought a new position in Ameriprise Financial in the fourth quarter worth $331,000. Private Trust Co. NA boosted its stake in Ameriprise Financial by 3.0% during the fourth quarter. Private Trust Co. NA now owns 896 shares of the financial services provider’s stock worth $477,000 after buying an additional 26 shares in the last quarter. Van Cleef Asset Management Inc bought a new stake in Ameriprise Financial in the 4th quarter valued at $266,000. Finally, QRG Capital Management Inc. raised its stake in shares of Ameriprise Financial by 0.4% in the 4th quarter. QRG Capital Management Inc. now owns 24,127 shares of the financial services provider’s stock valued at $12,846,000 after buying an additional 96 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 2.2 %

Shares of AMP stock opened at $537.77 on Friday. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a market capitalization of $51.69 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.15 and a beta of 1.36. The firm has a 50-day moving average price of $539.85 and a 200 day moving average price of $514.85. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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%. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.10%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMP shares. Piper Sandler lifted their target price 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. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $510.44.

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.