MML Investors Services LLC Cuts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

MML Investors Services LLC cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,968 shares of the financial services provider’s stock after selling 2,048 shares during the period. MML Investors Services LLC owned approximately 0.09% of Ameriprise Financial worth $46,304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.3 %

AMP stock opened at $464.57 on Monday. The business’s 50-day moving average price is $494.40 and its 200-day moving average price is $523.25. The stock has a market cap of $44.51 billion, a P/E ratio of 14.05, a PEG ratio of 1.15 and a beta of 1.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its 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 net margin of 19.70% and a return on equity of 69.35%. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMP shares. Morgan Stanley lifted their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Raymond James raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $517.44.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 6th. The shares were 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 in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction 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 position. The disclosure for this sale can be found here. In the last quarter, 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 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.