Arjuna Capital Sells 610 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Arjuna Capital lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,880 shares of the financial services provider’s stock after selling 610 shares during the quarter. Ameriprise Financial accounts for approximately 1.8% of Arjuna Capital’s portfolio, making the stock its 12th largest position. Arjuna Capital’s holdings in Ameriprise Financial were worth $6,858,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the fourth quarter worth approximately $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $30,000. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth $36,000. SRS Capital Advisors Inc. grew its position in Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. 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 note on Friday, January 31st. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $514.89.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction dated 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 approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 over the last three months. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

Shares of AMP opened at $499.28 on Friday. The stock has a 50 day moving average of $536.85 and a 200 day moving average of $517.04. The company has a market capitalization of $47.99 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last announced its 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 69.35% and a net margin of 19.70%. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is 17.91%.

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.