Forvis Mazars Wealth Advisors LLC Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Forvis Mazars Wealth Advisors LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,848 shares of the financial services provider’s stock after selling 158 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $2,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Howard Capital Management Group LLC lifted its position in Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 178 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $206,000. Private Advisor Group LLC lifted its holdings in shares of Ameriprise Financial by 10.5% in the 3rd quarter. Private Advisor Group LLC now owns 6,417 shares of the financial services provider’s stock valued at $3,015,000 after acquiring an additional 612 shares during the last quarter. Ballentine Partners LLC grew its position in Ameriprise Financial by 9.6% in the third quarter. Ballentine Partners LLC now owns 2,206 shares of the financial services provider’s stock worth $1,036,000 after acquiring an additional 193 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Ameriprise Financial by 15.5% during the third quarter. Allworth Financial LP now owns 4,580 shares of the financial services provider’s stock worth $2,152,000 after acquiring an additional 614 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMP has been the subject of several analyst reports. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Stock Down 2.0 %

Shares of AMP opened at $530.18 on Monday. The firm has a fifty day moving average price of $540.50 and a 200-day moving average price of $511.27. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $51.43 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.17 and a beta of 1.36. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data 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 net margin of 19.70% and a return on equity of 69.35%. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 in the last ninety days. 0.73% of the stock is owned by company insiders.

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.