Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Great Diamond Partners LLC

Great Diamond Partners LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,962 shares of the financial services provider’s stock after selling 72 shares during the period. Ameriprise Financial makes up about 1.0% of Great Diamond Partners LLC’s holdings, making the stock its 25th largest holding. Great Diamond Partners LLC’s holdings in Ameriprise Financial were worth $3,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Northwestern Mutual Wealth Management Co. grew its holdings in Ameriprise Financial by 0.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,674 shares of the financial services provider’s stock worth $3,706,000 after acquiring an additional 79 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Ameriprise Financial by 3.4% during the second quarter. Cetera Investment Advisers now owns 35,479 shares of the financial services provider’s stock worth $15,157,000 after purchasing an additional 1,158 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Ameriprise Financial in the second quarter valued at $6,407,000. Abacus Planning Group Inc. acquired a new stake in Ameriprise Financial in the third quarter valued at $210,000. Finally, Czech National Bank lifted its holdings in Ameriprise Financial by 5.7% during the 3rd quarter. Czech National Bank now owns 20,002 shares of the financial services provider’s stock worth $9,397,000 after buying an additional 1,074 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Down 0.9 %

Shares of Ameriprise Financial stock opened at $542.83 on Friday. Ameriprise Financial, Inc. has a 1 year low of $378.05 and a 1 year high of $582.05. The company has a market capitalization of $52.66 billion, a P/E ratio of 16.42, a PEG ratio of 0.87 and a beta of 1.36. The company’s fifty day moving average is $548.14 and its two-hundred day moving average is $496.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial (NYSE:AMP) last issued its quarterly 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 return on equity of 69.46% and a net margin of 19.70%. Analysts forecast that Ameriprise Financial, Inc. will post 39.04 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Activity at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on AMP shares. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a 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 company an “underweight” rating in a research note on Friday. Morgan Stanley boosted their price objective 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. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $509.33.

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.