Xponance Inc. Has $13.88 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Xponance Inc. lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,059 shares of the financial services provider’s stock after selling 3,202 shares during the quarter. Xponance Inc.’s holdings in Ameriprise Financial were worth $13,875,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMP. TCTC Holdings LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth $26,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial during the 4th quarter worth about $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $489.01 on Wednesday. The stock has a market capitalization of $47.00 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.15 and a beta of 1.33. The business has a 50-day moving average of $530.03 and a 200-day moving average of $520.27. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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%. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMP. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Piper Sandler increased their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One equities 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $514.89.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. Company 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.