Castellan Group Sells 478 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Castellan Group cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,388 shares of the financial services provider’s stock after selling 478 shares during the quarter. Castellan Group’s holdings in Ameriprise Financial were worth $2,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial during the fourth quarter worth $30,000. Oakworth Capital Inc. bought a new position in shares of Ameriprise Financial during the third quarter worth $31,000. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth $36,000. Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth $38,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Ameriprise Financial during the third quarter worth $45,000. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Down 0.4 %

Shares of AMP stock opened at $526.80 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm’s fifty day moving average price is $542.68 and its two-hundred day moving average price is $504.00. The firm has a market capitalization of $51.11 billion, a P/E ratio of 15.93, a PEG ratio of 1.18 and a beta of 1.36.

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

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s payout ratio is currently 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.