Edgestream Partners L.P. Reduces Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Edgestream Partners L.P. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 83.0% during the 4th quarter, Holdings Channel reports. The firm owned 1,735 shares of the financial services provider’s stock after selling 8,452 shares during the quarter. Edgestream Partners L.P.’s holdings in Ameriprise Financial were worth $924,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMP. Geller Advisors LLC lifted its stake in Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after buying an additional 19 shares in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Ameriprise Financial by 3.4% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 19 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 20 shares during the last quarter. Dakota Wealth Management boosted its stake in shares of Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 21 shares during the last quarter. Finally, Abel Hall LLC increased its position in Ameriprise Financial by 4.2% during the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 21 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s 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 owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Ameriprise Financial Stock Down 0.5 %

Shares of NYSE AMP opened at $478.20 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $45.96 billion, a PE ratio of 14.46, a P/E/G ratio of 1.15 and a beta of 1.33. The firm has a fifty day moving average of $534.76 and a 200-day moving average of $518.81. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced 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%. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $514.89.

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.