Eley Financial Management Inc Sells 205 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Eley Financial Management Inc decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,323 shares of the financial services provider’s stock after selling 205 shares during the period. Eley Financial Management Inc’s holdings in Ameriprise Financial were worth $2,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial during the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial in the 4th quarter worth about $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the fourth quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $36,000. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were 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 in the company, valued at approximately $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 quarter, insiders sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley upped their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $510.20.

Ameriprise Financial Stock Down 3.4 %

Shares of Ameriprise Financial stock opened at $456.70 on Friday. The firm has a market cap of $43.90 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s 50-day moving average is $502.39 and its 200 day moving average is $523.02.

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 net margin of 19.70% and a return on equity of 69.35%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.30%. Ameriprise Financial’s payout ratio is currently 17.91%.

Ameriprise Financial Company 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.