D.A. Davidson & CO. Sells 338 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

D.A. Davidson & CO. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,153 shares of the financial services provider’s stock after selling 338 shares during the period. D.A. Davidson & CO.’s holdings in Ameriprise Financial were worth $2,211,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth about $30,000. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $36,000. Golden State Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $38,000. Peterson Financial Group Inc. bought a new position in Ameriprise Financial in the 3rd quarter worth about $45,000. Finally, Albion Financial Group UT bought a new position in Ameriprise Financial in the 4th quarter worth about $46,000. 83.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler increased their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price objective 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the firm’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 approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s 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 directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. 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 three months. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $530.18 on Friday. The company has a market cap of $51.44 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $540.89 and a two-hundred day moving average of $508.68.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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, analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s dividend payout ratio (DPR) is 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.