Pinnacle Wealth Management Advisory Group LLC Reduces Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Pinnacle Wealth Management Advisory Group LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 691 shares of the financial services provider’s stock after selling 33 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Ameriprise Financial were worth $368,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AMP. Exchange Traded Concepts LLC acquired a new position in Ameriprise Financial during the third quarter worth $108,000. Creative Planning increased its position in shares of Ameriprise Financial by 1.6% during the third quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock valued at $10,604,000 after acquiring an additional 348 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Ameriprise Financial by 11.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,906 shares of the financial services provider’s stock valued at $5,124,000 after buying an additional 1,159 shares during the period. Howard Capital Management Group LLC lifted its holdings in Ameriprise Financial by 11.1% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares in the last quarter. Finally, Trust Point Inc. grew its position in shares of Ameriprise Financial by 5.4% during the third quarter. Trust Point Inc. now owns 589 shares of the financial services provider’s stock worth $277,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 1.3 %

Shares of NYSE:AMP opened at $546.69 on Monday. The company’s fifty day moving average is $541.20 and its two-hundred day moving average is $505.72. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The stock has a market capitalization of $53.04 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

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 1.08%. Ameriprise Financial’s dividend payout ratio is 17.91%.

About Ameriprise Financial

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.