Howard Bailey Securities LLC Sells 140 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Howard Bailey Securities LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new position in Ameriprise Financial in the third quarter worth $31,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at $36,000. Golden State Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $38,000. Finally, Albion Financial Group UT purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth about $46,000. 83.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 0.4 %

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

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler upped their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $510.44.

About Ameriprise Financial

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.