Beacon Financial Group Sells 37 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Beacon Financial Group decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% in the fourth quarter, according to its most recent 13F 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Authentikos Wealth Advisory LLC bought a new position in Ameriprise Financial during the 4th quarter valued at approximately $319,000. Sovran Advisors LLC bought a new position in Ameriprise Financial during the 4th quarter valued at approximately $2,576,000. Essex Financial Services Inc. raised its position in shares of Ameriprise Financial by 4.3% in the 4th quarter. Essex Financial Services Inc. now owns 748 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 31 shares in the last quarter. Focus Financial Network Inc. raised its position in shares of Ameriprise Financial by 2.3% in the 4th quarter. Focus Financial Network Inc. now owns 1,258 shares of the financial services provider’s stock worth $670,000 after acquiring an additional 28 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its position in shares of Ameriprise Financial by 10.4% in the 4th quarter. Summit Trail Advisors LLC now owns 911 shares of the financial services provider’s stock worth $485,000 after acquiring an additional 86 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock 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 company has a market capitalization of $51.11 billion, a P/E ratio of 15.93, a PEG ratio of 1.18 and a beta of 1.36. The stock’s 50 day moving average is $542.68 and its 200 day moving average is $504.00. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month 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 earnings per share for the quarter, topping 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 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.48 per share. 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 17.91%.

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 on 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 sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMP shares. UBS Group lowered 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 research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Morgan Stanley increased their target price on 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 increased their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Piper Sandler increased their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.