Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 51.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,064 shares of the financial services provider’s stock after selling 14,105 shares during the period. Guggenheim Capital LLC’s holdings in Ameriprise Financial were worth $6,956,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMP. TCTC Holdings LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $36,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last ninety days. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley raised their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $517.44.

Ameriprise Financial Stock Up 0.3 %

NYSE:AMP opened at $464.57 on Friday. The stock has a 50-day simple moving average of $495.68 and a 200 day simple moving average of $522.71. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a market capitalization of $44.65 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. 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 (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%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.27%. Ameriprise Financial’s dividend payout ratio (DPR) 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.