Dividend Assets Capital LLC Sells 1,453 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Dividend Assets Capital LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,839 shares of the financial services provider’s stock after selling 1,453 shares during the quarter. Ameriprise Financial comprises approximately 3.6% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 5th largest position. Dividend Assets Capital LLC’s holdings in Ameriprise Financial were worth $18,550,000 as of its most recent SEC filing.

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

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated 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 of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated 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 approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMP. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $510.44.

Ameriprise Financial Stock Performance

Shares of AMP opened at $530.18 on Friday. The company has a market cap of $51.44 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. The firm has a 50-day moving average of $540.89 and a 200-day moving average of $508.68. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

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

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is presently 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.