Edgestream Partners L.P. Reduces Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Edgestream Partners L.P. decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 83.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,735 shares of the financial services provider’s stock after selling 8,452 shares during the quarter. Edgestream Partners L.P.’s holdings in Ameriprise Financial were worth $924,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AMP. Howard Capital Management Group LLC lifted its position in shares of 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 during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Ameriprise Financial in the third quarter valued at $107,000. Versor Investments LP boosted its stake in Ameriprise Financial by 84.4% in the third quarter. Versor Investments LP now owns 1,099 shares of the financial services provider’s stock valued at $516,000 after acquiring an additional 503 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Ameriprise Financial by 3.4% during the third quarter. Nations Financial Group Inc. IA ADV now owns 5,407 shares of the financial services provider’s stock worth $2,540,000 after purchasing an additional 180 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Ameriprise Financial by 5.5% during the third quarter. Harbour Investments Inc. now owns 1,006 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.5 %

Shares of NYSE:AMP opened at $478.20 on Wednesday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm’s 50-day simple moving average is $534.76 and its 200-day simple moving average is $518.81. The company has a market cap of $45.96 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.15 and a beta of 1.33.

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

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted 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 upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $514.89.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred 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 owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

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.