Beacon Financial Group Cuts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Beacon Financial Group reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,123 shares of the financial services provider’s stock after selling 37 shares during the period. Beacon Financial Group’s holdings in Ameriprise Financial were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Exchange Traded Concepts LLC purchased a new position in shares of Ameriprise Financial in the 3rd quarter worth $108,000. Wesbanco Bank Inc. boosted its stake in shares of Ameriprise Financial by 9.9% in the 3rd quarter. Wesbanco Bank Inc. now owns 1,169 shares of the financial services provider’s stock worth $549,000 after buying an additional 105 shares during the last quarter. Creative Planning boosted its stake in shares of Ameriprise Financial by 1.6% in the 3rd quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock worth $10,604,000 after buying an additional 348 shares during the last quarter. Asset Dedication LLC boosted its stake in shares of Ameriprise Financial by 74.3% in the 3rd quarter. Asset Dedication LLC now owns 176 shares of the financial services provider’s stock worth $83,000 after buying an additional 75 shares during the last quarter. Finally, Bfsg LLC boosted its stake in shares of Ameriprise Financial by 13.1% in the 3rd quarter. Bfsg LLC now owns 4,477 shares of the financial services provider’s stock worth $2,103,000 after buying an additional 520 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated 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 sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $526.80 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The business’s 50-day simple moving average is $542.68 and its two-hundred day simple moving average is $504.00. The stock has a market cap of $51.11 billion, a PE ratio of 15.93, a P/E/G ratio of 1.18 and a beta of 1.36. 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 quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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%. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler raised their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised 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. Finally, UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One investment 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $510.44.

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.