Howard Bailey Securities LLC Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

Howard Bailey Securities LLC lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 671 shares of the financial services provider’s stock after selling 140 shares during the quarter. Howard Bailey Securities LLC’s holdings in Ameriprise Financial were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Czech National Bank increased its stake in Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after buying an additional 1,033 shares during the period. Bridgewater Associates LP grew its stake in Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after acquiring an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC lifted its position in Ameriprise Financial by 136.3% during the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after acquiring an additional 1,867 shares during the last quarter. Finally, Aljian Capital Management LLC acquired a new stake in Ameriprise Financial in the third quarter valued at approximately $458,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were 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 directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. One research 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $526.80 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The firm has a market capitalization of $51.11 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.18 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a fifty day simple moving average of $542.68 and a 200-day simple moving average of $504.00.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

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.