Midland Wealth Advisors LLC Sells 180 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Midland Wealth Advisors LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 24.9% in the fourth quarter, HoldingsChannel reports. The firm owned 544 shares of the financial services provider’s stock after selling 180 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $36,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 20 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $480.05 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $46.14 billion, a P/E ratio of 14.52, a PEG ratio of 1.15 and a beta of 1.33. The stock’s 50 day moving average is $535.84 and its 200 day moving average is $518.54. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data 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 return on equity of 69.35% and a net margin of 19.70%. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Insider Activity at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction 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 directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on AMP. Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Morgan Stanley upped their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Company 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.