Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,610 shares of the financial services provider’s stock after selling 409 shares during the period. First Horizon Advisors Inc.’s holdings in Ameriprise Financial were worth $1,923,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Pinnacle Financial Partners Inc increased its stake in Ameriprise Financial by 3.0% during the 4th quarter. Pinnacle Financial Partners Inc now owns 1,116 shares of the financial services provider’s stock worth $594,000 after buying an additional 32 shares during the period. Deseret Mutual Benefit Administrators grew its stake in shares of Ameriprise Financial by 21.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 668 shares of the financial services provider’s stock valued at $356,000 after acquiring an additional 119 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in shares of Ameriprise Financial by 4.7% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 5,604 shares of the financial services provider’s stock valued at $2,984,000 after acquiring an additional 254 shares in the last quarter. Morningstar Investment Management LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $209,000. Finally, Boston Financial Mangement LLC lifted its stake in shares of Ameriprise Financial by 8.8% in the fourth quarter. Boston Financial Mangement LLC now owns 1,761 shares of the financial services provider’s stock worth $938,000 after acquiring an additional 143 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMP has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler upped their price target 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Stock Performance

Shares of AMP opened at $530.18 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The business’s fifty day moving average price is $540.50 and its 200 day moving average price is $511.27. The stock has a market capitalization of $51.43 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

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.