Kimelman & Baird LLC Sells 80 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Kimelman & Baird LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200 shares of the financial services provider’s stock after selling 80 shares during the period. Kimelman & Baird LLC’s holdings in Ameriprise Financial were worth $106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $26,000. Parallel Advisors LLC raised its position in Ameriprise Financial by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 4,292 shares of the financial services provider’s stock valued at $2,285,000 after purchasing an additional 121 shares during the last quarter. WealthTrust Asset Management LLC bought a new position in Ameriprise Financial during the 4th quarter valued at approximately $816,000. one8zero8 LLC bought a new position in Ameriprise Financial during the 4th quarter valued at approximately $234,000. Finally, Choate Investment Advisors raised its position in Ameriprise Financial by 1.3% during the 4th quarter. Choate Investment Advisors now owns 14,072 shares of the financial services provider’s stock valued at $7,492,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $514.89.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the 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 sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 in the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 2.9 %

AMP stock opened at $485.94 on Monday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $46.71 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The business has a 50 day moving average of $531.56 and a 200 day moving average of $519.64.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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%. On average, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

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.