Concurrent Investment Advisors LLC Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Concurrent Investment Advisors LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 636 shares of the financial services provider’s stock after selling 21 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Ameriprise Financial were worth $339,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMP shares. Piper Sandler raised their target price on 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 set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised 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, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Stock Down 1.7 %

NYSE:AMP opened at $521.85 on Wednesday. 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 company has a market capitalization of $50.16 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth 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. The stock has a 50-day simple moving average of $539.71 and a 200 day simple moving average of $513.01.

Ameriprise Financial (NYSE:AMP) last issued its 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%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % 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 in the last three months. 0.96% of the stock is owned by insiders.

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.