Ameriprise Financial, Inc. $AMP Position Trimmed by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 78.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,674 shares of the financial services provider’s stock after selling 6,143 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Ameriprise Financial were worth $821,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $30,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at $32,000. WFA of San Diego LLC acquired a new position in shares of Ameriprise Financial in the second quarter worth $36,000. Finally, Salomon & Ludwin LLC increased its stake in shares of Ameriprise Financial by 76.8% in the third quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 43 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was 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 in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,658 shares of company stock worth $8,998,675. 0.57% of the stock is currently owned by insiders.

Ameriprise Financial Trading Up 0.9%

Shares of NYSE:AMP opened at $437.95 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $39.93 billion, a PE ratio of 12.04, a P/E/G ratio of 1.02 and a beta of 1.27. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $550.18. The firm has a fifty day moving average price of $484.63 and a 200 day moving average price of $482.00.

Ameriprise Financial (NYSE:AMP) last posted its earnings results 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. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the company earned $9.54 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMP shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Morgan Stanley boosted their price target on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Finally, Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $434.00 to $530.00 in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.