Farmers & Merchants Investments Inc. Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Farmers & Merchants Investments Inc. decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% during the 4th quarter, Holdings Channel reports. The fund owned 32,195 shares of the financial services provider’s stock after selling 657 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Ameriprise Financial were worth $17,142,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AMP. Oakworth Capital Inc. acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $31,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $36,000. Golden State Wealth Management LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at $38,000. Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial during the 3rd quarter worth about $45,000. Finally, Albion Financial Group UT acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

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

Ameriprise Financial Stock Down 0.6 %

Shares of NYSE:AMP opened at $538.59 on Friday. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The stock has a market cap of $52.25 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.18 and a beta of 1.36. The firm has a fifty day moving average price of $544.84 and a 200 day moving average price of $500.82.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.68 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a $1.48 dividend. 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 currently 17.91%.

Insider Activity at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.73% of the company’s stock.

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.