Foster & Motley Inc. Cuts Stock Position in Ameriprise Financial, Inc. $AMP

Foster & Motley Inc. trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,553 shares of the financial services provider’s stock after selling 1,246 shares during the quarter. Foster & Motley Inc.’s holdings in Ameriprise Financial were worth $9,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of AMP. Holos Integrated Wealth LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth about $30,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at $32,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $32,000. WFA of San Diego LLC acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $36,000. Finally, Salomon & Ludwin LLC grew its stake in Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.1%

Ameriprise Financial stock opened at $437.40 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average of $477.13 and a two-hundred day moving average of $479.77. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18. The stock has a market capitalization of $39.88 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.01 and a beta of 1.27.

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

Ameriprise Financial Announces Dividend

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

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This trade represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,658 shares of company stock valued at $8,998,675 over the last quarter. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Royal Bank Of Canada restated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Morgan Stanley boosted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Finally, Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial 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.