Bailard Inc. Sells 1,501 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Bailard Inc. cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 57.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,119 shares of the financial services provider’s stock after selling 1,501 shares during the period. Bailard Inc.’s holdings in Ameriprise Financial were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Ameriprise Financial in the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at about $34,000. Carmel Capital Partners LLC purchased a new position in shares of Ameriprise Financial in the third quarter worth about $30,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $34,000. Finally, Fortitude Family Office LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $39,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $410.01 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The firm has a 50-day moving average of $418.65 and a 200 day moving average of $381.14. The company has a market cap of $41.08 billion, a P/E ratio of 13.96, a PEG ratio of 0.70 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.25 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.65 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a $1.48 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.44%. Ameriprise Financial’s dividend payout ratio is 18.38%.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group upped their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, UBS Group upped their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $449.57.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO James M. Cracchiolo sold 2,493 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $401.11, for a total value of $999,967.23. Following the sale, the chief executive officer now directly owns 196,598 shares of the company’s stock, valued at approximately $78,857,423.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James M. Cracchiolo sold 2,493 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $401.11, for a total transaction of $999,967.23. Following the completion of the transaction, the chief executive officer now directly owns 196,598 shares in the company, valued at $78,857,423.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the sale, the director now owns 12,500 shares in the company, valued at approximately $4,832,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,472 shares of company stock valued at $31,779,805. 0.73% of the stock is currently owned by company insiders.

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.