Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 15.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111 shares of the financial services provider’s stock after selling 20 shares during the quarter. Byrne Asset Management LLC’s holdings in Ameriprise Financial were worth $59,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in Ameriprise Financial in the 4th quarter valued at $38,000. Lecap Asset Management Ltd. acquired a new position in Ameriprise Financial during the fourth quarter worth about $2,152,000. Fairvoy Private Wealth LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $4,220,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Ameriprise Financial by 1.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,039 shares of the financial services provider’s stock valued at $5,877,000 after acquiring an additional 133 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Ameriprise Financial by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 221,911 shares of the financial services provider’s stock worth $118,152,000 after purchasing an additional 2,455 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ameriprise Financial Trading Down 0.6 %

Shares of NYSE AMP opened at $538.59 on Friday. 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 stock has a market capitalization of $52.25 billion, a PE ratio of 16.29, a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The stock has a fifty day simple moving average of $544.84 and a 200-day simple moving average of $500.82.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 38.68 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.10%. Ameriprise Financial’s dividend payout ratio is presently 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.