Mutual of America Capital Management LLC Decreases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mutual of America Capital Management LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,516 shares of the financial services provider’s stock after selling 2,108 shares during the period. Mutual of America Capital Management LLC’s holdings in Ameriprise Financial were worth $14,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Howard Capital Management Group LLC raised its stake in shares of Ameriprise Financial by 11.1% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares during the last quarter. Valmark Advisers Inc. increased its holdings in Ameriprise Financial by 45.8% during the 3rd quarter. Valmark Advisers Inc. now owns 856 shares of the financial services provider’s stock valued at $402,000 after acquiring an additional 269 shares in the last quarter. US Bancorp DE increased its holdings in Ameriprise Financial by 2.2% during the 3rd quarter. US Bancorp DE now owns 94,843 shares of the financial services provider’s stock valued at $44,559,000 after acquiring an additional 2,064 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of Ameriprise Financial by 4.6% in the third quarter. Stephens Inc. AR now owns 2,145 shares of the financial services provider’s stock valued at $1,008,000 after purchasing an additional 94 shares in the last quarter. Finally, Lebenthal Global Advisors LLC lifted its holdings in shares of Ameriprise Financial by 17.3% in the third quarter. Lebenthal Global Advisors LLC now owns 2,175 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 321 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 in the last quarter. 0.96% of the stock is owned by insiders.

Ameriprise Financial Stock Performance

NYSE AMP opened at $537.77 on Friday. The business’s 50-day moving average price is $539.85 and its 200 day moving average price is $514.11. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a market capitalization of $51.69 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36.

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

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. 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 report on Monday, January 6th. Piper Sandler upped their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $510.44.

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.