Atlantic Edge Private Wealth Management LLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,484 shares of the financial services provider’s stock after selling 144 shares during the quarter. Ameriprise Financial comprises about 0.9% of Atlantic Edge Private Wealth Management LLC’s holdings, making the stock its 26th biggest holding. Atlantic Edge Private Wealth Management LLC’s holdings in Ameriprise Financial were worth $2,920,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Czech National Bank boosted its holdings in shares of Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after buying an additional 1,033 shares during the last quarter. Bridgewater Associates LP raised its stake in Ameriprise Financial by 97.8% during the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 1,329 shares during the last quarter. SpiderRock Advisors LLC grew its holdings in shares of Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after purchasing an additional 1,867 shares during the last quarter. Finally, Aljian Capital Management LLC purchased a new stake in Ameriprise Financial in the third quarter worth about $458,000. 83.95% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have commented on AMP. Piper Sandler increased 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. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $510.44.
Insider Transactions at Ameriprise Financial
In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.73% of the company’s stock.
Ameriprise Financial Stock Down 1.7 %
NYSE AMP opened at $529.25 on Tuesday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The firm has a market cap of $51.34 billion, a PE ratio of 16.01, a P/E/G ratio of 1.18 and a beta of 1.36. 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 business’s fifty day simple moving average is $544.14 and its 200-day simple moving average is $502.75.
Ameriprise Financial (NYSE:AMP – Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate 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 analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.
Ameriprise Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.
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.
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