D.A. Davidson & CO. Sells 338 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

D.A. Davidson & CO. lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,153 shares of the financial services provider’s stock after selling 338 shares during the period. D.A. Davidson & CO.’s holdings in Ameriprise Financial were worth $2,211,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in Ameriprise Financial in the 4th quarter worth $30,000. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter worth $36,000. Golden State Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth $38,000. Peterson Financial Group Inc. bought a new position in Ameriprise Financial in the 3rd quarter worth $45,000. Finally, Albion Financial Group UT bought a new position in Ameriprise Financial in the 4th quarter worth $46,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 2.0 %

Shares of NYSE AMP opened at $530.18 on Friday. The firm’s 50-day moving average price is $540.89 and its 200-day moving average price is $508.68. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $51.44 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.19 and a beta of 1.36. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given 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 is 17.91%.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was 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 directly owns 14,023 shares in the company, 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 have sold 11,636 shares of company stock valued at $6,263,989 in the last ninety days. 0.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMP shares. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. 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 report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Piper Sandler increased their price objective 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $510.44.

About Ameriprise Financial

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.