Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Skba Capital Management LLC

Skba Capital Management LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,245 shares of the financial services provider’s stock after selling 200 shares during the period. Skba Capital Management LLC’s holdings in Ameriprise Financial were worth $1,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. Howard Capital Management Group LLC raised its holdings in Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 178 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of Ameriprise Financial by 71.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 926 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 386 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Ameriprise Financial by 22.5% during the 3rd quarter. Verition Fund Management LLC now owns 3,760 shares of the financial services provider’s stock worth $1,766,000 after purchasing an additional 690 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Ameriprise Financial during the third quarter worth $4,786,000. Finally, Erste Asset Management GmbH purchased a new position in Ameriprise Financial in the third quarter valued at $22,863,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of analyst reports. Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target 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. 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. Finally, Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Stock Down 3.4 %

Shares of NYSE:AMP opened at $481.64 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $46.29 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a fifty day moving average price of $524.55 and a 200 day moving average price of $523.67.

Ameriprise Financial (NYSE:AMP) last released 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 return on equity of 69.35% and a net margin of 19.70%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’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 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 disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last 90 days. 0.73% of the stock is currently owned by 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.