Sage Mountain Advisors LLC Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Sage Mountain Advisors LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 27.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,051 shares of the financial services provider’s stock after selling 389 shares during the period. Sage Mountain Advisors LLC’s holdings in Ameriprise Financial were worth $399,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venture Visionary Partners LLC raised its position in shares of Ameriprise Financial by 2.9% in the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after purchasing an additional 416 shares during the last quarter. 17 Capital Partners LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $2,078,000. Cerity Partners LLC increased its holdings in shares of Ameriprise Financial by 280.6% in the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after purchasing an additional 22,487 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Ameriprise Financial in the third quarter valued at about $1,150,000. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Ameriprise Financial by 75.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 335 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 144 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $2,485,474.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the sale, the insider now directly owns 6,994 shares in the company, valued at approximately $3,056,378. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock worth $35,560,647 over the last three months. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Up 1.0 %

AMP stock opened at $421.33 on Tuesday. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s fifty day moving average is $417.37 and its 200 day moving average is $379.18. The firm has a market cap of $42.21 billion, a PE ratio of 17.77, a P/E/G ratio of 0.69 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the company posted $7.25 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts forecast that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.41%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMP. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Evercore ISI increased their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. The Goldman Sachs Group increased their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. UBS Group increased their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Raymond James began coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $441.00.

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.