Argent Capital Management LLC Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Argent Capital Management LLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,442 shares of the financial services provider’s stock after selling 957 shares during the period. Argent Capital Management LLC’s holdings in Ameriprise Financial were worth $25,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. USA Financial Formulas bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $179,000. Silvia Mccoll Wealth Management LLC bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $223,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $109,000. Park Avenue Securities LLC grew its position in shares of Ameriprise Financial by 23.0% during the 4th quarter. Park Avenue Securities LLC now owns 21,791 shares of the financial services provider’s stock valued at $11,602,000 after acquiring an additional 4,075 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Ameriprise Financial by 816.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after buying an additional 195,271 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMP shares. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. One 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $494.89.

Ameriprise Financial Price Performance

Shares of AMP opened at $537.64 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $52.16 billion, a PE ratio of 20.64, a P/E/G ratio of 0.96 and a beta of 1.36. The firm has a 50-day simple moving average of $549.04 and a two-hundred day simple moving average of $487.35. Ameriprise Financial, Inc. has a 1-year low of $368.41 and a 1-year high of $577.00.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.10%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Insider Activity

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,715 shares of company stock worth $11,983,436. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Company Profile

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.