Payden & Rygel Has $1.52 Million Stock Position in Ameriprise Financial, Inc. $AMP

Payden & Rygel lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 89.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,100 shares of the financial services provider’s stock after selling 27,100 shares during the quarter. Payden & Rygel’s holdings in Ameriprise Financial were worth $1,523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC increased its holdings in Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after buying an additional 22 shares during the period. Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the third quarter valued at approximately $32,000. Finally, WFA of San Diego LLC acquired a new position in Ameriprise Financial during the second quarter valued at approximately $36,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMP. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Argus lowered their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Price Performance

Shares of AMP opened at $471.08 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market cap of $42.95 billion, a PE ratio of 12.96, a PEG ratio of 1.10 and a beta of 1.26. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18. The business has a 50-day simple moving average of $500.78 and a two-hundred day simple moving average of $489.55.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping 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 analysts’ expectations of $4.75 billion. During the same period in the previous year, the business posted $9.54 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s payout ratio is presently 17.60%.

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.