Crewe Advisors LLC Trims Position in Ameriprise Financial, Inc. (NYSE:AMP)

Crewe Advisors LLC cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,376 shares of the financial services provider’s stock after selling 34 shares during the period. Crewe Advisors LLC’s holdings in Ameriprise Financial were worth $733,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Oakworth Capital Inc. acquired a new position in Ameriprise Financial during the 3rd quarter worth approximately $31,000. Country Trust Bank lifted its position in shares of Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $36,000. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial during the 3rd quarter valued at $45,000. Finally, Albion Financial Group UT purchased a new stake in Ameriprise Financial during the 4th quarter worth $46,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMP has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $510.44.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

Ameriprise Financial Trading Up 0.4 %

NYSE:AMP opened at $537.72 on Thursday. The business has a fifty day moving average of $546.12 and a 200-day moving average of $500.27. The stock has a market cap of $52.16 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. Equities analysts predict that Ameriprise Financial, Inc. will post 38.68 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.10%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

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.