Mutual of America Capital Management LLC Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Mutual of America Capital Management LLC reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,516 shares of the financial services provider’s stock after selling 2,108 shares during the period. Mutual of America Capital Management LLC’s holdings in Ameriprise Financial were worth $14,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Howard Capital Management Group LLC grew its position in Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 178 shares in the last quarter. Valmark Advisers Inc. boosted its stake in shares of Ameriprise Financial by 45.8% in the third quarter. Valmark Advisers Inc. now owns 856 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 269 shares during the period. US Bancorp DE grew its holdings in Ameriprise Financial by 2.2% during the 3rd quarter. US Bancorp DE now owns 94,843 shares of the financial services provider’s stock valued at $44,559,000 after purchasing an additional 2,064 shares in the last quarter. Stephens Inc. AR increased its stake in Ameriprise Financial by 4.6% during the 3rd quarter. Stephens Inc. AR now owns 2,145 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 94 shares during the period. Finally, Lebenthal Global Advisors LLC lifted its holdings in Ameriprise Financial by 17.3% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 2,175 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 321 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In related news, 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 completion of the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, 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 ownership of the stock. 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 in the last quarter. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMP shares. UBS Group downgraded 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. Piper Sandler raised their price objective on 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 restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Price Performance

Shares of AMP opened at $537.77 on Friday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. 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 price-to-earnings ratio of 16.27, a PEG ratio of 1.15 and a beta of 1.36. The stock has a 50 day moving average of $539.85 and a 200-day moving average of $514.11.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping 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, analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Ameriprise Financial 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.