Weaver C. Barksdale & Associates Inc. Sells 574 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Weaver C. Barksdale & Associates Inc. cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,449 shares of the financial services provider’s stock after selling 574 shares during the quarter. Ameriprise Financial accounts for approximately 2.3% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 5th biggest position. Weaver C. Barksdale & Associates Inc.’s holdings in Ameriprise Financial were worth $2,369,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in Ameriprise Financial by 24.3% during the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 327 shares in the last quarter. Czech National Bank raised its position in shares of Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after buying an additional 1,033 shares during the period. Bridgewater Associates LP lifted its stake in shares of Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Ameriprise Financial during the fourth quarter worth approximately $43,000. Finally, Benjamin Edwards Inc. increased its holdings in Ameriprise Financial by 1,261.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider’s stock valued at $550,000 after purchasing an additional 1,085 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $512.01 on Wednesday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The business has a fifty day moving average of $527.56 and a 200-day moving average of $522.40. The firm has a market cap of $49.21 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Analyst Ratings Changes

AMP has been the topic of a number of recent analyst reports. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $514.89.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred 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 directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last 90 days. 0.96% of the stock is currently owned by insiders.

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.