Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 24.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,005 shares of the financial services provider’s stock after selling 329 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Ameriprise Financial were worth $535,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial in the 4th quarter worth approximately $30,000. Oakworth Capital Inc. acquired a new position in Ameriprise Financial in the 3rd quarter worth approximately $31,000. Sound Income Strategies LLC acquired a new position in Ameriprise Financial in the 4th quarter worth approximately $36,000. Golden State Wealth Management LLC acquired a new position in Ameriprise Financial in the 4th quarter worth approximately $38,000. Finally, Albion Financial Group UT acquired a new position in Ameriprise Financial in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AMP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $510.44.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial 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 completion of the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Up 1.3 %

AMP stock opened at $546.69 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a fifty day simple moving average of $541.49 and a 200 day simple moving average of $504.41. The firm has a market cap of $53.03 billion, a PE ratio of 16.54, a PEG ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data 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 net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is presently 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.