Fairvoy Private Wealth LLC Lowers Position in Ameriprise Financial, Inc. $AMP

Fairvoy Private Wealth LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 90.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 612 shares of the financial services provider’s stock after selling 5,758 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in Ameriprise Financial were worth $300,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC increased its holdings in shares of Ameriprise Financial by 2.3% in the 2nd quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 21 shares in the last quarter. Rexford Capital Inc. lifted its stake in shares of Ameriprise Financial by 20.6% in the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 21 shares during the period. Dakota Community Bank & Trust NA boosted its holdings in Ameriprise Financial by 2.4% during the third quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock worth $463,000 after buying an additional 22 shares in the last quarter. UMB Bank n.a. boosted its holdings in Ameriprise Financial by 0.8% during the third quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock worth $1,504,000 after buying an additional 23 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Ameriprise Financial by 5.4% during the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after buying an additional 23 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research analyst reports. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Morgan Stanley boosted their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Finally, Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $555.67.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer directly owned 12,149 shares in the company, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,658 shares of company stock worth $8,998,675. 0.73% of the stock is owned by insiders.

Ameriprise Financial Trading Down 2.5%

Ameriprise Financial stock opened at $436.98 on Friday. The stock has a 50-day moving average price of $478.56 and a 200 day moving average price of $480.39. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18. The stock has a market cap of $39.84 billion, a PE ratio of 12.02, a P/E/G ratio of 1.04 and a beta of 1.27. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the prior year, the firm earned $9.54 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.