Hilltop Partners LLC Sells 290 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Hilltop Partners LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,925 shares of the financial services provider’s stock after selling 290 shares during the period. Hilltop Partners LLC’s holdings in Ameriprise Financial were worth $1,557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. Howard Capital Management Group LLC boosted its holdings in shares of Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after buying an additional 178 shares during the period. abrdn plc lifted its position in Ameriprise Financial by 7.7% in the 3rd quarter. abrdn plc now owns 91,204 shares of the financial services provider’s stock valued at $42,610,000 after acquiring an additional 6,544 shares in the last quarter. Valmark Advisers Inc. boosted its stake in Ameriprise Financial by 45.8% in the 3rd quarter. Valmark Advisers Inc. now owns 856 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 269 shares during the period. First Trust Direct Indexing L.P. increased its holdings in Ameriprise Financial by 23.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,013 shares of the financial services provider’s stock worth $2,355,000 after purchasing an additional 947 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Ameriprise Financial by 2.2% in the 3rd quarter. US Bancorp DE now owns 94,843 shares of the financial services provider’s stock valued at $44,559,000 after purchasing an additional 2,064 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMP. Piper Sandler upped their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Price Performance

NYSE:AMP opened at $525.64 on Friday. The stock has a market capitalization of $50.52 billion, a PE ratio of 15.90, a P/E/G ratio of 1.15 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a fifty day simple moving average of $539.74 and a 200 day simple moving average of $513.19. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last announced 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 net margin of 19.70% and a return on equity of 69.35%. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 1.13%. Ameriprise Financial’s dividend payout ratio is 17.91%.

Insider Activity

In related news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 over the last three months. Insiders own 0.96% of the company’s stock.

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.