Gladstone Institutional Advisory LLC Sells 329 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Gladstone Institutional Advisory LLC decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 24.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,005 shares of the financial services provider’s stock after selling 329 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Ameriprise Financial were worth $535,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. Exchange Traded Concepts LLC bought a new position in shares of Ameriprise Financial during the 3rd quarter worth about $108,000. Creative Planning increased its holdings in shares of Ameriprise Financial by 1.6% during the 3rd quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock worth $10,604,000 after purchasing an additional 348 shares during the period. Asset Dedication LLC increased its stake in Ameriprise Financial by 74.3% in the third quarter. Asset Dedication LLC now owns 176 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 75 shares during the period. Bfsg LLC increased its stake in Ameriprise Financial by 13.1% in the third quarter. Bfsg LLC now owns 4,477 shares of the financial services provider’s stock valued at $2,103,000 after acquiring an additional 520 shares during the period. Finally, Global Retirement Partners LLC increased its stake in Ameriprise Financial by 8.8% in the third quarter. Global Retirement Partners LLC now owns 3,732 shares of the financial services provider’s stock valued at $1,753,000 after acquiring an additional 301 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $546.69 on Friday. The firm has a market cap of $53.03 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.18 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 company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $541.49 and its two-hundred day moving average price is $504.41.

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

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Ameriprise Financial’s payout ratio is 17.91%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AMP shares. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $510.44.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

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.