Gamco Investors INC. ET AL Sells 362 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Gamco Investors INC. ET AL lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,185 shares of the financial services provider’s stock after selling 362 shares during the period. Gamco Investors INC. ET AL’s holdings in Ameriprise Financial were worth $5,423,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. TCTC Holdings LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on AMP. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Finally, Piper Sandler increased their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $517.44.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction 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. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 2.8 %

Shares of NYSE:AMP opened at $463.11 on Thursday. The business’s 50 day simple moving average is $496.97 and its 200 day simple moving average is $522.75. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $44.51 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping 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%. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

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.