Ellevest Inc. Sells 37 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Ellevest Inc. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 836 shares of the financial services provider’s stock after selling 37 shares during the quarter. Ellevest Inc.’s holdings in Ameriprise Financial were worth $445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TCTC Holdings LLC acquired a new position in Ameriprise Financial during the 4th quarter worth about $26,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.6 %

AMP stock opened at $492.09 on Friday. The stock has a market cap of $47.15 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.15 and a beta of 1.28. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock’s fifty day simple moving average is $476.70 and its two-hundred day simple moving average is $519.86. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.39 earnings per share. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has approved a stock buyback program on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.30%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial’s dividend payout ratio is 21.75%.

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’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 sale, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on AMP. Piper Sandler increased 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. Morgan Stanley upped their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada upped their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Raymond James upgraded shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $517.13.

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.