SOA Wealth Advisors LLC. Has $5.24 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

SOA Wealth Advisors LLC. cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,849 shares of the financial services provider’s stock after selling 44 shares during the quarter. Ameriprise Financial makes up about 1.0% of SOA Wealth Advisors LLC.’s holdings, making the stock its 23rd biggest position. SOA Wealth Advisors LLC.’s holdings in Ameriprise Financial were worth $5,244,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AMP. Oakworth Capital Inc. bought a new position in Ameriprise Financial during the third quarter worth $31,000. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial in the 4th quarter worth $36,000. Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $38,000. Peterson Financial Group Inc. acquired a new position in Ameriprise Financial in the 3rd quarter valued at approximately $45,000. Finally, Albion Financial Group UT bought a new position in Ameriprise Financial in the fourth quarter worth $46,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMP. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Down 0.6 %

Shares of AMP opened at $538.59 on Friday. The business’s 50 day simple moving average is $544.84 and its 200-day simple moving average is $500.82. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a market capitalization of $52.25 billion, a P/E ratio of 16.29, a PEG ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates 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 38.68 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

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.