Xponance Inc. Has $13.88 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Xponance Inc. cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.9% in the 4th quarter, HoldingsChannel reports. The fund owned 26,059 shares of the financial services provider’s stock after selling 3,202 shares during the quarter. Xponance Inc.’s holdings in Ameriprise Financial were worth $13,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 0.8 %

Shares of AMP opened at $489.01 on Wednesday. The firm has a 50 day simple moving average of $530.03 and a two-hundred day simple moving average of $520.27. The company has a market cap of $47.00 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid 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 dividend yield of 1.21%. Ameriprise Financial’s payout ratio is presently 17.91%.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company’s stock, 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 document filed with the SEC, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods boosted their price objective on shares of 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, Piper Sandler boosted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $514.89.

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.