Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,021 shares of the financial services provider’s stock after selling 158 shares during the quarter. Hartford Investment Management Co.’s holdings in Ameriprise Financial were worth $3,206,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AMP. Exchange Traded Concepts LLC acquired a new position in Ameriprise Financial in the third quarter valued at about $108,000. Wesbanco Bank Inc. lifted its position in Ameriprise Financial by 9.9% in the third quarter. Wesbanco Bank Inc. now owns 1,169 shares of the financial services provider’s stock valued at $549,000 after buying an additional 105 shares during the last quarter. Creative Planning lifted its position in shares of Ameriprise Financial by 1.6% during the third quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock worth $10,604,000 after purchasing an additional 348 shares in the last quarter. Asset Dedication LLC lifted its position in shares of Ameriprise Financial by 74.3% during the third quarter. Asset Dedication LLC now owns 176 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 75 shares in the last quarter. Finally, Bfsg LLC lifted its position in shares of Ameriprise Financial by 13.1% during the third quarter. Bfsg LLC now owns 4,477 shares of the financial services provider’s stock worth $2,103,000 after purchasing an additional 520 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.4 %

AMP stock opened at $526.80 on Thursday. The company’s 50 day moving average price is $542.68 and its 200 day moving average price is $504.00. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm has a market capitalization of $51.11 billion, a price-to-earnings ratio of 15.93, a PEG 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, beating 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 research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Wall Street Analyst Weigh In

AMP has been the topic of several research reports. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley increased their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.