Authentikos Wealth Advisory LLC Acquires New Holdings in Ameriprise Financial, Inc.

In the fourth quarter, Authentikos Wealth Advisory LLC announced that it has purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP). According to their recent filing with the Securities and Exchange Commission, the firm acquired 600 shares of the financial services provider's stock, which is valued at approximately $319,000.

Recently, various hedge funds have adjusted their holdings in Ameriprise Financial. For example, Wingate Wealth Advisors Inc. purchased a new position in the fourth quarter worth about $30,000. Similarly, Oakworth Capital Inc. made a new investment during the third quarter valued at roughly $31,000. Other firms like Sound Income Strategies LLC and Golden State Wealth Management LLC also acquired new stakes in Ameriprise Financial during the fourth quarter, valued at approximately $36,000 and $38,000, respectively. Furthermore, Peterson Financial Group Inc. entered a new position in Ameriprise Financial in the third quarter, worth around $45,000. Overall, institutional investors and hedge funds hold approximately 83.95% of the company's stock.

Recent Analyst Opinions

Several equity research analysts have recently shared their price targets for Ameriprise Financial shares. Keefe, Bruyette & Woods raised their target price from $560.00 to $570.00, maintaining a "market perform" rating. Piper Sandler also increased their price target from $415.00 to $442.00 while giving the stock an "underweight" rating. UBS Group downgraded the company from a "buy" to a "neutral" rating, adjusting their price objective from $580.00 to $570.00. In contrast, Royal Bank of Canada reaffirmed an "outperform" rating with a target price of $625.00, and Morgan Stanley raised their target from $440.00 to $502.00, suggesting an "equal weight" rating. Currently, one analyst rates the stock as a sell, while six have a hold rating, and three analysts have issued buy ratings, leading to a consensus rating of "Hold" and a consensus price target of $510.44 according to data from MarketBeat.

Ameriprise Financial's Stock Performance

Ameriprise Financial's stock opened at $528.72 on Wednesday. The company has a 50-day simple moving average of $543.42 and a 200-day simple moving average of $503.37, with a market capitalization of $51.29 billion. The firm's price-to-earnings ratio stands at 15.99, coupled with a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial has recorded a one-year low of $385.74 and a high of $582.05.

Dividend Announcement

The company has also announced a quarterly dividend, which is scheduled to be paid on Friday, February 28th. Shareholders who are on record by Monday, February 10th, will receive a dividend of $1.48 per share. The ex-dividend date is also set for February 10th. This indicates an annualized dividend of $5.92, translating to a yield of 1.12%. The company’s payout ratio is reported at 17.91%.

Insider Transactions

In recent insider trading news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock on February 6th, at an average price of $540.29, amounting to a total value of $3,241,740.00. Post-sale, the CEO directly holds 14,023 shares valued at approximately $7,576,486.67, indicating a 29.97% decline in ownership. This transaction has been filed with the SEC and is accessible publicly.

About Ameriprise Financial

Ameriprise Financial, Inc. provides a range of financial products and services to both individual and institutional clients, operating through four main segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Investment, Finance, Acquisition