Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,387 shares of the financial services provider’s stock after selling 28 shares during the quarter. Wedbush Securities Inc.’s holdings in Ameriprise Financial were worth $738,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $623,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth $16,044,000. ROI Financial Advisors LLC raised its stake in shares of Ameriprise Financial by 3.9% in the fourth quarter. ROI Financial Advisors LLC now owns 1,021 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 38 shares in the last quarter. Spahn Wealth & Retirement LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $423,000. Finally, Arete Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 4th quarter worth $247,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMP. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Raymond James upgraded shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a report on Monday. 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, Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $515.20.

Insider Activity

In other Ameriprise Financial news, 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 transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm’s 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 sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 1.2 %

AMP opened at $427.37 on Tuesday. 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 quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $41.08 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The business’s 50-day simple moving average is $512.78 and its 200-day simple moving average is $524.26.

Ameriprise Financial (NYSE:AMP) last issued 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%. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. Ameriprise Financial’s dividend payout ratio 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.