Flputnam Investment Management Co. Sells 1,539 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Flputnam Investment Management Co. decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 24.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,740 shares of the financial services provider’s stock after selling 1,539 shares during the quarter. Flputnam Investment Management Co.’s holdings in Ameriprise Financial were worth $2,524,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Ameriprise Financial during the fourth quarter valued at about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $36,000. Golden State Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at $38,000. Finally, Albion Financial Group UT bought a new position in Ameriprise Financial in the fourth quarter worth $46,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Up 2.2 %

Shares of AMP opened at $537.77 on Friday. The company has a market capitalization of $51.69 billion, a P/E ratio of 16.27, a PEG ratio of 1.15 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The business’s 50 day simple moving average is $539.85 and its 200-day simple moving average is $514.85. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal 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 1.10%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler increased their price target 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. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, UBS Group lowered 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 note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $510.44.

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.