Transamerica Financial Advisors Inc. Cuts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Transamerica Financial Advisors Inc. cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 19.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,296 shares of the financial services provider’s stock after selling 315 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Ameriprise Financial were worth $690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. OneAscent Wealth Management LLC raised its holdings in Ameriprise Financial by 34.1% in the 4th quarter. OneAscent Wealth Management LLC now owns 677 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 172 shares during the last quarter. Allstate Corp bought a new stake in shares of Ameriprise Financial in the 4th quarter worth $1,537,000. Brown Brothers Harriman & Co. raised its stake in shares of Ameriprise Financial by 8.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,554 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 127 shares during the last quarter. DnB Asset Management AS lifted its holdings in shares of Ameriprise Financial by 4.4% during the fourth quarter. DnB Asset Management AS now owns 18,687 shares of the financial services provider’s stock valued at $9,950,000 after purchasing an additional 781 shares in the last quarter. Finally, denkapparat Operations GmbH purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at $261,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 3.4 %

Shares of AMP stock opened at $481.64 on Friday. 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 company has a market cap of $46.29 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm has a fifty day moving average price of $524.55 and a 200-day moving average price of $523.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.23%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is 17.91%.

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 value of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated 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 directly 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. In the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $514.89.

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.