Wedbush Securities Inc. Sells 40 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Posted by Defense World Staff on Apr 18th, 2023

Wedbush Securities Inc. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,111 shares of the financial services provider’s stock after selling 40 shares during the period. Wedbush Securities Inc.’s holdings in Ameriprise Financial were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Ameriprise Financial by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,925,117 shares of the financial services provider’s stock valued at $3,508,434,000 after acquiring an additional 84,131 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in Ameriprise Financial by 2.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,044,344 shares of the financial services provider’s stock valued at $515,072,000 after acquiring an additional 48,641 shares during the last quarter. Invesco Ltd. increased its holdings in Ameriprise Financial by 33.5% in the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock valued at $324,031,000 after acquiring an additional 270,755 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Ameriprise Financial by 7.9% in the 3rd quarter. Nuveen Asset Management LLC now owns 1,051,996 shares of the financial services provider’s stock valued at $265,050,000 after acquiring an additional 77,367 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Ameriprise Financial by 7.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 993,519 shares of the financial services provider’s stock valued at $250,327,000 after acquiring an additional 71,559 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO James M. Cracchiolo sold 39,343 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $352.08, for a total value of $13,851,883.44. Following the completion of the sale, the chief executive officer now directly owns 157,103 shares of the company’s stock, valued at approximately $55,312,824.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Joseph Edward Sweeney sold 5,863 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $348.79, for a total value of $2,044,955.77. Following the completion of the sale, the insider now owns 10,456 shares of the company’s stock, valued at approximately $3,646,948.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James M. Cracchiolo sold 39,343 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $352.08, for a total transaction of $13,851,883.44. Following the completion of the sale, the chief executive officer now directly owns 157,103 shares of the company’s stock, valued at approximately $55,312,824.24. The disclosure for this sale can be found here. Insiders sold a total of 75,328 shares of company stock valued at $26,478,645 in the last three months. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Argus boosted their target price on shares of Ameriprise Financial from $340.00 to $392.00 in a report on Tuesday, January 31st. StockNews.com downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $350.00 to $375.00 and gave the stock a “market perform” rating in a report on Tuesday, January 31st. Credit Suisse Group boosted their target price on shares of Ameriprise Financial from $382.00 to $401.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. Finally, Morgan Stanley reduced their target price on shares of Ameriprise Financial from $360.00 to $338.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $346.20.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $311.61 on Tuesday. The company has a market capitalization of $32.77 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.66 and a beta of 1.46. Ameriprise Financial, Inc. has a 12 month low of $219.99 and a 12 month high of $357.46. The firm’s 50-day moving average is $320.41 and its 200 day moving average is $314.80. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.43.

Ameriprise Financial (NYSE:AMP – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.59. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Ameriprise Financial had a net margin of 17.91% and a return on equity of 70.64%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $6.15 EPS. Research analysts predict that Ameriprise Financial, Inc. will post 30.53 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Friday, February 10th were given a $1.25 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.00 annualized dividend and a yield of 1.60%. Ameriprise Financial’s dividend payout ratio (DPR) is 22.27%.

Ameriprise Financial Profile

(Get Rating)

Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.