Sienna Gestion Cuts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

by · The Markets Daily

Sienna Gestion lessened its position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,960 shares of the financial services provider’s stock after selling 1,410 shares during the period. Ameriprise Financial makes up 1.1% of Sienna Gestion’s investment portfolio, making the stock its 18th largest holding. Sienna Gestion’s holdings in Ameriprise Financial were worth $15,949,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Renasant Bank increased its position in Ameriprise Financial by 12.9% during the 4th quarter. Renasant Bank now owns 1,211 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 138 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Ameriprise Financial by 5.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 45,879 shares of the financial services provider’s stock valued at $24,427,000 after buying an additional 2,564 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in Ameriprise Financial by 9.8% during the fourth quarter. HBK Sorce Advisory LLC now owns 942 shares of the financial services provider’s stock worth $502,000 after acquiring an additional 84 shares during the period. Avantax Advisory Services Inc. raised its position in Ameriprise Financial by 6.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,421 shares of the financial services provider’s stock worth $1,289,000 after acquiring an additional 139 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its holdings in Ameriprise Financial by 2.6% in the fourth quarter. Great Lakes Advisors LLC now owns 7,790 shares of the financial services provider’s stock valued at $4,148,000 after acquiring an additional 198 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMP shares. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $514.89.

Read Our Latest Report on AMP

Insider Buying and Selling

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’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 owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 1.8 %

Shares of NYSE:AMP opened at $471.88 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $45.36 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The stock’s fifty day simple moving average is $532.56 and its 200-day simple moving average is $518.22.

Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.25%. Ameriprise Financial’s payout ratio is 17.91%.

About Ameriprise Financial

(Free Report)

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.

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