Banque Pictet & Cie SA Sells 2,027 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Banque Pictet & Cie SA cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,486 shares of the financial services provider’s stock after selling 2,027 shares during the period. Banque Pictet & Cie SA’s holdings in Ameriprise Financial were worth $11,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the fourth quarter worth $30,000. Oakworth Capital Inc. bought a new position in shares of Ameriprise Financial in the third quarter valued at about $31,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $36,000. Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $38,000. Finally, Albion Financial Group UT acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $46,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $540.66 on Friday. The company has a fifty day moving average price of $541.99 and a two-hundred day moving average price of $504.16. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The stock has a market cap of $52.45 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.09%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMP. 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 note on Friday, January 31st. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $510.44.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred 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 directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Ameriprise Financial 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.