Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Prentice Wealth Management LLC

Prentice Wealth Management LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,482 shares of the financial services provider’s stock after selling 140 shares during the period. Ameriprise Financial accounts for about 0.5% of Prentice Wealth Management LLC’s holdings, making the stock its 27th largest holding. Prentice Wealth Management LLC’s holdings in Ameriprise Financial were worth $1,854,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth $30,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $36,000. Golden State Wealth Management LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth about $38,000. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial during the third quarter worth about $45,000. Finally, Albion Financial Group UT purchased a new position in Ameriprise Financial during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 2.0 %

AMP opened at $530.18 on Friday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. 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 has a fifty day simple moving average of $540.89 and a 200-day simple moving average of $508.68. The firm has a market cap of $51.44 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.19 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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 analysts expect that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMP. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $510.44.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.73% of the company’s stock.

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.