Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Cadence Bank

Cadence Bank lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.7% in the fourth quarter, HoldingsChannel reports. The fund owned 9,444 shares of the financial services provider’s stock after selling 358 shares during the period. Cadence Bank’s holdings in Ameriprise Financial were worth $5,028,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. TCTC Holdings LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $26,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler upped 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. Morgan Stanley raised their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Raymond James upgraded shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $517.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial 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 transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Trading Up 0.3 %

NYSE AMP opened at $464.57 on Friday. The firm’s 50 day moving average price is $495.68 and its two-hundred day moving average price is $522.71. The stock has a market cap of $44.65 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

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, 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%. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

Ameriprise Financial 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.