Kayne Anderson Rudnick Investment Management LLC Purchases 523 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,678 shares of the financial services provider’s stock after acquiring an additional 523 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Ameriprise Financial were worth $3,556,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cerro Pacific Wealth Advisors LLC grew its holdings in shares of Ameriprise Financial by 3.4% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 19 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after buying an additional 20 shares during the period. HighPoint Advisor Group LLC increased its holdings in shares of Ameriprise Financial by 0.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock worth $1,419,000 after buying an additional 20 shares during the period. Dakota Wealth Management lifted its stake in shares of Ameriprise Financial by 2.7% in the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 21 shares during the last quarter. Finally, Abel Hall LLC boosted its holdings in Ameriprise Financial by 4.2% during the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 21 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley upped their price objective 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. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $517.44.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The stock was 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 owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 over the last quarter. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 2.8 %

AMP stock opened at $451.75 on Tuesday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a market capitalization of $43.28 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The business’s 50 day moving average price is $492.90 and its two-hundred day moving average price is $523.00. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, 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 declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.31%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

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.