Third View Private Wealth LLC Makes New Investment in Ameriprise Financial, Inc. $AMP

Key Points

• Third View Private Wealth opened a new position in Ameriprise, buying 2,598 shares in Q4 worth about $1.274 million, and several other institutional investors also raised stakes — institutions now own 83.95% of the stock.
• Significant insider selling recently: CFO Walter Berman sold 7,000 shares at $544.22 and CEO William Truscott sold 5,000 at $532.08, with insiders selling 16,658 shares (~$9.0 million) over the past 90 days and now owning 0.60% of the company.
• Analysts hold a consensus "Hold" rating with a $544.22 target amid mixed revisions (Piper Sandler and Morgan Stanley cut targets while RBC raised theirs to $605), as Ameriprise posted a quarterly EPS beat ($10.83 vs. $10.33) and pays a $1.60 quarterly dividend (1.4% yield).

Third View Private Wealth LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,598 shares of the financial services provider's stock, valued at approximately $1,274,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC lifted its stake in Ameriprise Financial by 26.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 2,007 shares of the financial services provider's stock worth $984,000 after purchasing an additional 424 shares during the period. Tectonic Advisors LLC lifted its stake in Ameriprise Financial by 7.3% during the fourth quarter. Tectonic Advisors LLC now owns 3,470 shares of the financial services provider's stock worth $1,701,000 after purchasing an additional 237 shares during the period. Ritholtz Wealth Management lifted its stake in Ameriprise Financial by 6.8% during the fourth quarter. Ritholtz Wealth Management now owns 1,976 shares of the financial services provider's stock worth $969,000 after purchasing an additional 126 shares during the period. Diversify Advisory Services LLC lifted its stake in Ameriprise Financial by 15.7% during the fourth quarter. Diversify Advisory Services LLC now owns 1,640 shares of the financial services provider's stock worth $835,000 after purchasing an additional 222 shares during the period. Finally, Bfsg LLC lifted its stake in Ameriprise Financial by 2.4% during the fourth quarter. Bfsg LLC now owns 5,988 shares of the financial services provider's stock worth $2,936,000 after purchasing an additional 142 shares during the period. Institutional investors own 83.95% of the company's stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares in the company, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,658 shares of company stock valued at $8,998,675. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMP shares. Piper Sandler dropped their price objective on shares of Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating for the company in a report on Tuesday, April 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ameriprise Financial in a report on Monday, December 29th. Morgan Stanley dropped their price objective on shares of Ameriprise Financial from $485.00 to $452.00 and set an "underweight" rating for the company in a report on Friday. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a report on Friday. They set a "hold" rating for the company. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus target price of $544.22.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $454.67 on Tuesday. 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 firm has a market cap of $41.46 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.08 and a beta of 1.27. The firm has a 50 day simple moving average of $463.93 and a 200 day simple moving average of $476.31. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts' consensus estimates of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $9.54 earnings per share. Sell-side analysts predict 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. Shareholders of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.60%.

About Ameriprise Financial

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.

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