Dividend Assets Capital LLC Sells 1,453 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Dividend Assets Capital LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 34,839 shares of the financial services provider’s stock after selling 1,453 shares during the period. Ameriprise Financial makes up approximately 3.6% of Dividend Assets Capital LLC’s holdings, making the stock its 5th largest position. Dividend Assets Capital LLC’s holdings in Ameriprise Financial were worth $18,550,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AMP. Geller Advisors LLC grew its position in Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 19 shares during the last quarter. Cerro Pacific Wealth Advisors LLC grew its position in Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock worth $307,000 after buying an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its stake in Ameriprise Financial by 2.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 20 shares during the period. Dakota Wealth Management raised its holdings in Ameriprise Financial by 2.7% in the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 21 shares in the last quarter. Finally, Abel Hall LLC raised its holdings in Ameriprise Financial by 4.2% in the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 21 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial 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 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 approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 over the last quarter. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent research reports. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased 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 note on Monday, February 3rd. Finally, Piper Sandler lifted their target price 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 research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Stock Down 2.0 %

Shares of NYSE AMP opened at $530.18 on Friday. The business has a fifty day moving average of $540.89 and a two-hundred day moving average of $508.68. 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 52-week low of $385.74 and a 52-week high of $582.05. The stock has a market cap of $51.44 billion, a PE ratio of 16.04, a PEG ratio of 1.19 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced 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 net margin of 19.70% and a return on equity of 69.35%. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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 of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. Ameriprise Financial’s payout ratio is 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.