Private Advisor Group LLC Sells 445 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Private Advisor Group LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,972 shares of the financial services provider’s stock after selling 445 shares during the period. Private Advisor Group LLC’s holdings in Ameriprise Financial were worth $3,180,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Howard Capital Management Group LLC raised its stake in shares of Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares in the last quarter. Foundations Investment Advisors LLC purchased a new position in Ameriprise Financial in the 3rd quarter worth $206,000. Ballentine Partners LLC lifted its stake in Ameriprise Financial by 9.6% in the third quarter. Ballentine Partners LLC now owns 2,206 shares of the financial services provider’s stock worth $1,036,000 after purchasing an additional 193 shares during the last quarter. Allworth Financial LP boosted its position in Ameriprise Financial by 15.5% during the third quarter. Allworth Financial LP now owns 4,580 shares of the financial services provider’s stock valued at $2,152,000 after buying an additional 614 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ameriprise Financial by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock valued at $8,725,000 after buying an additional 1,191 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 2.0 %

AMP stock opened at $530.18 on Monday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The firm has a market cap of $51.43 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36. The business has a 50 day moving average of $540.50 and a 200 day moving average of $511.27. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last announced 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 net margin of 19.70% and a return on equity of 69.35%. On average, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMP. Keefe, Bruyette & Woods lifted their price target on 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 downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $625.00 target price 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 assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.