Navellier & Associates Inc. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 35.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 394 shares of the financial services provider’s stock after selling 221 shares during the quarter. Navellier & Associates Inc.’s holdings in Ameriprise Financial were worth $210,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the fourth quarter worth about $30,000. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at approximately $36,000. Golden State Wealth Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at approximately $38,000. Albion Financial Group UT purchased a new stake in Ameriprise Financial in the 4th quarter valued at approximately $46,000. Finally, Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.
Ameriprise Financial Price Performance
AMP stock opened at $530.18 on Monday. The firm has a 50 day moving average of $540.50 and a 200-day moving average of $511.27. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The company has a market cap of $51.43 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.17 and a beta of 1.36.
Ameriprise Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $510.44.
View Our Latest Research Report on AMP
Insider Buying and Selling
In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business’s 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 in the last ninety days. Insiders own 0.73% of the company’s stock.
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.
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