Byrne Asset Management LLC Reduces Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Byrne Asset Management LLC reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 15.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 111 shares of the financial services provider’s stock after selling 20 shares during the quarter. Byrne Asset Management LLC’s holdings in Ameriprise Financial were worth $59,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Oakworth Capital Inc. purchased a new position in Ameriprise Financial during the 3rd quarter worth approximately $31,000. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $36,000. Golden State Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $38,000. Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial in the 3rd quarter valued at $45,000. Finally, Albion Financial Group UT acquired a new stake in Ameriprise Financial during the 4th quarter worth $46,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $538.59 on Friday. The company’s fifty day moving average is $544.84 and its two-hundred day moving average is $500.82. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The firm has a market capitalization of $52.25 billion, a P/E ratio of 16.29, a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results 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 net margin of 19.70% and a return on equity of 69.35%. Analysts forecast that Ameriprise Financial, Inc. will post 38.68 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Ameriprise Financial’s payout ratio is 17.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMP shares. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, 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 value of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is owned by corporate insiders.

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.