Eley Financial Management Inc Sells 198 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Eley Financial Management Inc lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,927 shares of the financial services provider’s stock after selling 198 shares during the period. Eley Financial Management Inc’s holdings in Ameriprise Financial were worth $1,871,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Venture Visionary Partners LLC grew its stake in Ameriprise Financial by 2.9% during the fourth quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after acquiring an additional 416 shares in the last quarter. 17 Capital Partners LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $2,078,000. Cerity Partners LLC boosted its stake in shares of Ameriprise Financial by 280.6% in the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after purchasing an additional 22,487 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Ameriprise Financial in the 3rd quarter valued at $1,150,000. Finally, Harbor Investment Advisory LLC boosted its stake in shares of Ameriprise Financial by 75.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 335 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AMP shares. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday. The Goldman Sachs Group upped their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, UBS Group lifted their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $449.57.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 5,146 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the completion of the transaction, the insider now owns 9,421 shares in the company, valued at approximately $3,669,196.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Joseph Edward Sweeney sold 5,146 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $389.47, for a total value of $2,004,212.62. Following the sale, the insider now owns 9,421 shares of the company’s stock, valued at approximately $3,669,196.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the sale, the director now directly owns 12,500 shares in the company, valued at $4,832,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,472 shares of company stock worth $31,779,805. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Down 0.1 %

Shares of AMP stock traded down $0.23 during trading hours on Friday, reaching $410.68. 124,202 shares of the stock were exchanged, compared to its average volume of 499,709. The business’s fifty day moving average is $418.41 and its two-hundred day moving average is $380.19. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $41.15 billion, a P/E ratio of 13.98, a P/E/G ratio of 0.68 and a beta of 1.36. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the business earned $7.25 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts expect that Ameriprise Financial, Inc. will post 34.58 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s payout ratio is currently 18.38%.

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.