Sage Mountain Advisors LLC Sells 413 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Sage Mountain Advisors LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 22.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,444 shares of the financial services provider’s stock after selling 413 shares during the period. Sage Mountain Advisors LLC’s holdings in Ameriprise Financial were worth $769,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMP. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $28,000. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial during the fourth quarter worth about $30,000. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial during the fourth quarter valued at approximately $36,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.5 %

Shares of NYSE:AMP opened at $478.20 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $45.96 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company’s 50-day moving average price is $534.76 and its two-hundred day moving average price is $518.81.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 annualized dividend and a dividend yield of 1.24%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Analysts Set New Price Targets

Several research firms recently commented on AMP. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley upped their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $514.89.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last 90 days. 0.73% of the stock is owned by insiders.

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.