Financial Counselors Inc. Sells 1,891 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Financial Counselors Inc. decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,400 shares of the financial services provider’s stock after selling 1,891 shares during the quarter. Ameriprise Financial accounts for approximately 1.0% of Financial Counselors Inc.’s investment portfolio, making the stock its 22nd biggest holding. Financial Counselors Inc.’s holdings in Ameriprise Financial were worth $65,169,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geller Advisors LLC raised its position 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 during the last quarter. Cerro Pacific Wealth Advisors LLC grew its position in Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after buying an additional 19 shares during the period. SRS Capital Advisors Inc. increased its holdings in Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after buying an additional 20 shares during the last quarter. Dakota Wealth Management boosted its stake in Ameriprise Financial by 2.7% in 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 stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMP shares. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price 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 target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Morgan Stanley raised their price target 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $512.01 on Wednesday. The stock has a market cap of $49.21 billion, a P/E ratio of 15.49, a PEG ratio of 1.15 and a beta of 1.33. 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 business’s 50-day moving average price is $527.56 and its two-hundred day moving average price is $522.40. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month 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 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 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.