SG Americas Securities LLC Sells 5,180 Shares of Ameriprise Financial, Inc. $AMP

SG Americas Securities LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 16.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,291 shares of the financial services provider’s stock after selling 5,180 shares during the quarter. SG Americas Securities LLC’s holdings in Ameriprise Financial were worth $12,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in Ameriprise Financial in the 2nd quarter valued at $693,736,000. Qube Research & Technologies Ltd boosted its holdings in shares of Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after purchasing an additional 275,659 shares during the last quarter. Man Group plc boosted its holdings in shares of Ameriprise Financial by 687.4% during the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock valued at $135,989,000 after purchasing an additional 241,665 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Ameriprise Financial by 29.3% during the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after purchasing an additional 219,080 shares in the last quarter. Finally, Close Asset Management Ltd increased its holdings in shares of Ameriprise Financial by 78.2% in the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock worth $227,652,000 after purchasing an additional 203,252 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last 90 days. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price target for the company from $434.00 to $530.00 in a research note on Friday, January 30th. Morgan Stanley raised their price target on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Trading Down 2.5%

Shares of AMP opened at $436.98 on Friday. The company’s fifty day simple moving average is $478.56 and its 200-day simple moving average is $480.29. The company has a market cap of $39.84 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.01 and a beta of 1.27. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $9.54 EPS. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.