Mather Group LLC. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,823 shares of the financial services provider’s stock after selling 126 shares during the quarter. Mather Group LLC.’s holdings in Ameriprise Financial were worth $970,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Longboard Asset Management LP bought a new position in Ameriprise Financial in the fourth quarter valued at about $229,000. abrdn plc boosted its stake in shares of Ameriprise Financial by 0.6% in the 4th quarter. abrdn plc now owns 91,736 shares of the financial services provider’s stock valued at $48,799,000 after purchasing an additional 532 shares in the last quarter. E&G Advisors LP bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at approximately $213,000. Means Investment CO. Inc. acquired a new position in Ameriprise Financial during the 4th quarter worth approximately $207,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at approximately $208,000. Institutional investors own 83.95% of the company’s stock.
Ameriprise Financial Stock Performance
NYSE:AMP opened at $535.83 on Wednesday. The company has a market capitalization of $51.98 billion, a PE ratio of 16.21, a P/E/G ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a fifty-two week low of $385.56 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The company has a 50 day simple moving average of $546.89 and a two-hundred day simple moving average of $499.39.
Ameriprise Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Ameriprise Financial’s payout ratio is 17.91%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on AMP shares. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $510.44.
Read Our Latest Report on Ameriprise Financial
Insider Activity at Ameriprise Financial
In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by corporate 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.
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