Allworth Financial LP Cuts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Allworth Financial LP reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,548 shares of the financial services provider’s stock after selling 32 shares during the period. Allworth Financial LP’s holdings in Ameriprise Financial were worth $2,554,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Principal Securities Inc. lifted its holdings in shares of Ameriprise Financial by 3.0% during the 4th quarter. Principal Securities Inc. now owns 4,843 shares of the financial services provider’s stock worth $2,579,000 after acquiring an additional 141 shares during the period. TigerOak Management L.L.C. purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $883,000. Manchester Capital Management LLC increased its position in Ameriprise Financial by 1.3% during the 4th quarter. Manchester Capital Management LLC now owns 3,992 shares of the financial services provider’s stock worth $2,126,000 after purchasing an additional 50 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in Ameriprise Financial by 3.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 5,606 shares of the financial services provider’s stock worth $2,985,000 after purchasing an additional 199 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $227,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Piper Sandler increased 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $510.44.

Ameriprise Financial Stock Up 1.3 %

Shares of NYSE:AMP opened at $546.69 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a 50 day moving average of $541.20 and a two-hundred day moving average of $506.25. The company has a market capitalization of $53.03 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released 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%. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

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.