GeoWealth Management LLC Sells 76 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

GeoWealth Management LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 9.7% during the fourth quarter, HoldingsChannel reports. The firm owned 704 shares of the financial services provider’s stock after selling 76 shares during the period. GeoWealth Management LLC’s holdings in Ameriprise Financial were worth $375,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Ameriprise Financial Trading Down 2.8 %

Shares of Ameriprise Financial stock opened at $451.75 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock has a fifty day moving average price of $492.90 and a 200-day moving average price of $523.00. 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 firm has a market cap of $43.28 billion, a PE ratio of 13.66, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.31%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were 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 approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.73% of the company’s stock.

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.