Ameriprise Financial, Inc. $AMP Shares Sold by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 90.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 612 shares of the financial services provider’s stock after selling 5,758 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in Ameriprise Financial were worth $300,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AMP. Pallas Capital Advisors LLC grew its holdings in Ameriprise Financial by 82.3% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,497 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 676 shares during the period. Accurate Wealth Management LLC raised its stake in Ameriprise Financial by 4.8% during the fourth quarter. Accurate Wealth Management LLC now owns 782 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 36 shares during the period. Net Worth Advisory Group raised its stake in Ameriprise Financial by 17.8% during the fourth quarter. Net Worth Advisory Group now owns 3,515 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 532 shares during the period. Dakota Wealth Management boosted its holdings in shares of Ameriprise Financial by 12.6% in the 4th quarter. Dakota Wealth Management now owns 717 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 80 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 18.6% in the 4th quarter. Kathmere Capital Management LLC now owns 853 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 134 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $436.98 on Friday. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The firm has a fifty day moving average of $478.56 and a 200-day moving average of $480.39. The firm has a market capitalization of $39.84 billion, a P/E ratio of 12.02, a PEG ratio of 1.04 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter last year, the firm posted $9.54 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,658 shares of company stock worth $8,998,675 over the last quarter. 0.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMP. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group lifted their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $555.67.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.