Burt Wealth Advisors Lowers Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Burt Wealth Advisors trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,061 shares of the financial services provider’s stock after selling 50 shares during the period. Burt Wealth Advisors’ holdings in Ameriprise Financial were worth $565,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in AMP. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $30,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $36,000. SRS Capital Advisors Inc. grew its stake in Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after buying an additional 20 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $38,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction on 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 of the company’s stock, 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 a total of 11,636 shares of company stock worth $6,263,989 in the last quarter. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised 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 report on Monday, February 3rd. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Trading Down 1.1 %

NYSE:AMP opened at $531.61 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year 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 stock has a fifty day moving average price of $539.80 and a two-hundred day moving average price of $516.28. The stock has a market capitalization of $51.10 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.15 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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%. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

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.