Aries Wealth Management Sells 300 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Aries Wealth Management lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 21.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,082 shares of the financial services provider’s stock after selling 300 shares during the period. Aries Wealth Management’s holdings in Ameriprise Financial were worth $576,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AMP. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $30,000. Oakworth Capital Inc. purchased a new position in Ameriprise Financial in the third quarter worth about $31,000. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $36,000. Golden State Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $38,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Ameriprise Financial in the 3rd quarter worth approximately $45,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Price Performance

AMP stock opened at $540.66 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The company’s fifty day moving average price is $541.99 and its 200-day moving average price is $504.16. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a market capitalization of $52.45 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares in the company, 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 is accessible through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Company 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.