Cigna Investments Inc. New Has $538,000 Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Cigna Investments Inc. New lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,010 shares of the financial services provider’s stock after selling 34 shares during the period. Cigna Investments Inc. New’s holdings in Ameriprise Financial were worth $538,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Sovran Advisors LLC bought a new position in Ameriprise Financial during the fourth quarter valued at about $2,576,000. Essex Financial Services Inc. increased its stake in Ameriprise Financial by 4.3% during the fourth quarter. Essex Financial Services Inc. now owns 748 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 31 shares during the period. Focus Financial Network Inc. increased its stake in Ameriprise Financial by 2.3% during the fourth quarter. Focus Financial Network Inc. now owns 1,258 shares of the financial services provider’s stock valued at $670,000 after acquiring an additional 28 shares during the period. Summit Trail Advisors LLC increased its stake in Ameriprise Financial by 10.4% during the fourth quarter. Summit Trail Advisors LLC now owns 911 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 86 shares during the period. Finally, Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 1.7 %

NYSE:AMP opened at $529.25 on Tuesday. The stock’s fifty day moving average price is $544.14 and its two-hundred day moving average price is $502.75. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The company has a market cap of $51.34 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted 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%. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Insider Activity

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were 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 owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler upped 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. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One investment 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 presently has a consensus rating of “Hold” and a consensus price target of $510.44.

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.