Lake Street Advisors Group LLC Trims Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Lake Street Advisors Group LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,368 shares of the financial services provider’s stock after selling 56 shares during the period. Lake Street Advisors Group LLC’s holdings in Ameriprise Financial were worth $1,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cavalier Investments LLC boosted its stake in shares of Ameriprise Financial by 3.7% during the 4th quarter. Cavalier Investments LLC now owns 2,713 shares of the financial services provider’s stock worth $1,444,000 after purchasing an additional 96 shares during the last quarter. MorganRosel Wealth Management LLC lifted its stake in shares of Ameriprise Financial by 4.5% during the fourth quarter. MorganRosel Wealth Management LLC now owns 1,955 shares of the financial services provider’s stock valued at $1,041,000 after buying an additional 84 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Ameriprise Financial by 24.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 40,055 shares of the financial services provider’s stock valued at $21,326,000 after buying an additional 7,816 shares during the period. Todd Asset Management LLC boosted its position in Ameriprise Financial by 1.6% during the fourth quarter. Todd Asset Management LLC now owns 100,786 shares of the financial services provider’s stock worth $53,661,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Mengis Capital Management Inc. purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % 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 over the last quarter. 0.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AMP has been the topic of several analyst reports. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Stock Up 0.6 %

AMP opened at $525.33 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm has a 50 day moving average price of $539.74 and a 200 day moving average price of $513.10. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $50.49 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released 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 net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

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.