Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,453 shares of the financial services provider’s stock after selling 132 shares during the period. New York Life Investment Management LLC’s holdings in Ameriprise Financial were worth $7,695,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $30,000. Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $36,000. Golden State Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at about $38,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $45,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction 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 directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Performance

AMP stock opened at $537.77 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap 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. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The stock’s 50 day simple moving average is $539.85 and its 200 day simple moving average is $514.11.

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

Ameriprise Financial Announces Dividend

The company 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. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Ameriprise Financial Company 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.