Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,368 shares of the financial services provider’s stock after selling 56 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Ameriprise Financial were worth $1,261,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Howard Capital Management Group LLC lifted its holdings in Ameriprise Financial by 11.1% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares during the last quarter. Arkadios Wealth Advisors raised its position in shares of Ameriprise Financial by 3.9% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,267 shares of the financial services provider’s stock valued at $595,000 after acquiring an additional 48 shares in the last quarter. Orrstown Financial Services Inc. bought a new position in Ameriprise Financial during the third quarter worth $201,000. abrdn plc lifted its stake in Ameriprise Financial by 7.7% during the third quarter. abrdn plc now owns 91,204 shares of the financial services provider’s stock worth $42,610,000 after purchasing an additional 6,544 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its holdings in Ameriprise Financial by 45.8% in the third quarter. Valmark Advisers Inc. now owns 856 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 269 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s 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 transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This trade 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 available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s 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 sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 over the last 90 days. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $525.33 on Thursday. The firm’s 50 day moving average is $539.74 and its two-hundred day moving average is $513.10. The firm has a market capitalization of $50.49 billion, a P/E ratio of 15.89, a PEG ratio of 1.15 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Wall Street Analysts Forecast Growth

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

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.