Arjuna Capital Has $6.86 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Arjuna Capital lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,880 shares of the financial services provider’s stock after selling 610 shares during the period. Ameriprise Financial makes up 1.8% of Arjuna Capital’s holdings, making the stock its 12th biggest holding. Arjuna Capital’s holdings in Ameriprise Financial were worth $6,858,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the fourth quarter valued at approximately $36,000. SRS Capital Advisors Inc. raised its position in Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Ameriprise Financial during the fourth quarter worth $38,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.7 %

AMP opened at $499.28 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company’s 50 day moving average price is $536.85 and its two-hundred day moving average price is $517.04. The firm has a market capitalization of $47.99 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate 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, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.19%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s 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 sale, the director now directly 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 document filed with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the 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 sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last ninety days. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMP. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler upped their price objective 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $514.89.

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.