Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Busey Bank

Busey Bank cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 11.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 785 shares of the financial services provider’s stock after selling 100 shares during the period. Busey Bank’s holdings in Ameriprise Financial were worth $418,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Abel Hall LLC grew its stake in shares of Ameriprise Financial by 4.2% during the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock valued at $275,000 after buying an additional 21 shares during the period. Highland Capital Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at about $1,286,000. Strategic Blueprint LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth about $228,000. Smith Group Asset Management LLC raised its holdings in shares of Ameriprise Financial by 0.5% in the 4th quarter. Smith Group Asset Management LLC now owns 69,945 shares of the financial services provider’s stock worth $37,241,000 after purchasing an additional 344 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after purchasing an additional 338,298 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Down 4.7 %

NYSE:AMP opened at $547.95 on Friday. The stock has a market cap of $53.16 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $378.05 and a one year high of $582.05. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The business’s 50-day simple moving average is $548.61 and its 200 day simple moving average is $496.50.

Ameriprise Financial (NYSE:AMP) last announced 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 return on equity of 68.52% and a net margin of 15.99%. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 33.96 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial 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 owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday. Finally, Morgan Stanley boosted their price objective 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. 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 stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $503.22.

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.