Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Pointe Capital Management LLC

Pointe Capital Management LLC lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,372 shares of the financial services provider’s stock after selling 40 shares during the period. Pointe Capital Management LLC’s holdings in Ameriprise Financial were worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $30,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $36,000. Golden State Wealth Management LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at $38,000. Albion Financial Group UT purchased a new position in Ameriprise Financial in the 4th quarter valued at $46,000. Finally, Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial during the 3rd quarter worth $45,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AMP shares. Keefe, Bruyette & Woods increased 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 report on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Trading Down 1.7 %

AMP opened at $521.85 on Wednesday. The business’s 50 day moving average price is $539.71 and its 200 day moving average price is $513.01. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $50.16 billion, a PE ratio of 15.78, a P/E/G ratio of 1.15 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.96% 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.