Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.7% during the 4th quarter, Holdings Channel reports. The firm owned 2,600 shares of the financial services provider’s stock after selling 129 shares during the quarter. 44 Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,384,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC raised its position in Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $206,000. Private Advisor Group LLC lifted its stake in Ameriprise Financial by 10.5% in the 3rd quarter. Private Advisor Group LLC now owns 6,417 shares of the financial services provider’s stock valued at $3,015,000 after buying an additional 612 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Ameriprise Financial in the 3rd quarter valued at approximately $456,890,000. Finally, Impact Partnership Wealth LLC acquired a new stake in Ameriprise Financial during the 3rd quarter valued at $368,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMP. 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 report on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut 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 target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. One investment 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. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Trading Down 2.0 %

Shares of AMP stock opened at $530.18 on Friday. The firm’s 50-day simple moving average is $540.89 and its 200-day simple moving average is $508.68. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a market cap of $51.44 billion, a P/E 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 for the quarter, beating analysts’ consensus estimates 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 analysts forecast that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

The company 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 dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Transactions at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 in the last three months. 0.73% of the stock is currently owned by company insiders.

About Ameriprise Financial

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.