iA Global Asset Management Inc. Sells 1,826 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

iA Global Asset Management Inc. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 49.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,853 shares of the financial services provider’s stock after selling 1,826 shares during the quarter. iA Global Asset Management Inc.’s holdings in Ameriprise Financial were worth $987,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMP. TCTC Holdings LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $36,000. 83.95% of the stock is owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 value of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 in the last three months. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 0.1 %

NYSE:AMP opened at $493.41 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. The firm has a market capitalization of $47.43 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The business has a fifty day moving average price of $528.03 and a 200-day moving average price of $520.24.

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, topping 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 forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed 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 1.20%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMP shares. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley upped their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted 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 note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $514.89.

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.