Wedbush Securities Inc. Trims Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Wedbush Securities Inc. lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,387 shares of the financial services provider’s stock after selling 28 shares during the period. Wedbush Securities Inc.’s holdings in Ameriprise Financial were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its position in Ameriprise Financial by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 327 shares in the last quarter. Czech National Bank lifted its stake in shares of Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after purchasing an additional 1,033 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Ameriprise Financial during the fourth quarter worth $43,000. Benjamin Edwards Inc. grew its position in Ameriprise Financial by 1,261.6% during the third quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider’s stock valued at $550,000 after buying an additional 1,085 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $399,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMP. Raymond James upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a research report on Monday. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $515.20.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $427.37 on Tuesday. The firm has a 50-day simple moving average of $512.78 and a 200-day simple moving average of $524.26. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating analysts’ consensus estimates 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 predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 in the last three months. 0.73% of the stock is owned by corporate insiders.

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.