Private Advisor Group LLC Has $3.18 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Private Advisor Group LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,972 shares of the financial services provider’s stock after selling 445 shares during the period. Private Advisor Group LLC’s holdings in Ameriprise Financial were worth $3,180,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AMP. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $36,000. Golden State Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the fourth quarter worth $38,000. Peterson Financial Group Inc. acquired a new stake in shares of Ameriprise Financial in the third quarter valued at about $45,000. Finally, Albion Financial Group UT acquired a new stake in Ameriprise Financial during the 4th quarter valued at approximately $46,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Trading Down 2.0 %

Shares of Ameriprise Financial stock opened at $530.18 on Monday. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. 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 company has a market capitalization of $51.43 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36. The stock has a fifty day simple moving average of $540.50 and a 200 day simple moving average of $511.27.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate 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, 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 firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMP shares. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company 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 lowered their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. One 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, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $510.44.

Insiders Place Their Bets

In other Ameriprise Financial 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 transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’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 sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company’s stock.

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.