Ameriprise Financial, Inc. $AMP Shares Sold by Asset Advisors Investment Management LLC

Key Points

• Asset Advisors Investment Management LLC trimmed its Ameriprise stake by 10.1% in Q4, selling 2,347 shares and finishing the period with 20,899 shares valued at $10.248 million.
• Company insiders have been net sellers recently: CEO William F. Truscott sold 5,000 shares at an average of $532.08, and insiders disposed of 16,658 shares (≈$8.998M) in the last 90 days, leaving insiders with 0.60% ownership.
• Wall Street has a consensus rating of Hold with an average price target of $544.22; Ameriprise beat Q4 estimates (EPS $10.83 vs. $10.33) and reported revenue growth of 10.2% year-over-year.

Asset Advisors Investment Management LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,899 shares of the financial services provider's stock after selling 2,347 shares during the period. Asset Advisors Investment Management LLC's holdings in Ameriprise Financial were worth $10,248,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Holos Integrated Wealth LLC acquired a new position in Ameriprise Financial during the 4th quarter worth $30,000. Heartwood Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth $32,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth $32,000. WFA of San Diego LLC acquired a new position in Ameriprise Financial during the 2nd quarter worth $36,000. Finally, Salomon & Ludwin LLC grew its holdings in Ameriprise Financial by 76.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider's stock worth $49,000 after acquiring an additional 43 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMP. BMO Capital Markets reissued a "market perform" rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a report on Friday. They set a "hold" rating for the company. Royal Bank Of Canada reissued an "outperform" rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a "strong-buy" rating in a report on Wednesday, February 11th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Ameriprise Financial in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $544.22.

Ameriprise Financial Trading Up 0.0%

Shares of NYSE:AMP opened at $446.48 on Monday. The company has a market cap of $40.71 billion, a PE ratio of 12.28, a P/E/G ratio of 1.08 and a beta of 1.27. The company's 50-day moving average price is $465.46 and its 200 day moving average price is $476.57. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $9.54 EPS. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.60%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the firm's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares of the company's stock, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the firm's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the transaction, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,658 shares of company stock valued at $8,998,675. Company insiders own 0.60% of the company's stock.

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.

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