Atlantic Edge Private Wealth Management LLC Sells 144 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Atlantic Edge Private Wealth Management LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,484 shares of the financial services provider’s stock after selling 144 shares during the quarter. Ameriprise Financial accounts for approximately 0.9% of Atlantic Edge Private Wealth Management LLC’s holdings, making the stock its 26th largest holding. Atlantic Edge Private Wealth Management LLC’s holdings in Ameriprise Financial were worth $2,920,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $30,000. Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial in the third quarter worth $31,000. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter worth $36,000. Golden State Wealth Management LLC bought a new stake in Ameriprise Financial during the fourth quarter valued at $38,000. Finally, Peterson Financial Group Inc. bought a new stake in Ameriprise Financial during the third quarter valued at $45,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $529.25 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $544.14 and a 200 day moving average price of $502.75. The stock has a market cap of $51.34 billion, a PE ratio of 16.01, a P/E/G ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMP shares. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $510.44.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were 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 represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.73% of the company’s stock.

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.