Ibex Wealth Advisors Has $833,000 Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Ibex Wealth Advisors lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 95.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,565 shares of the financial services provider's stock after selling 36,688 shares during the quarter. Ibex Wealth Advisors' holdings in Ameriprise Financial were worth $833,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Creative Planning lifted its stake in Ameriprise Financial by 2.2% during the second quarter. Creative Planning now owns 22,223 shares of the financial services provider's stock worth $9,493,000 after purchasing an additional 487 shares during the period. NewEdge Advisors LLC lifted its position in shares of Ameriprise Financial by 9.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,166 shares of the financial services provider's stock worth $3,916,000 after buying an additional 789 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Ameriprise Financial by 0.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,674 shares of the financial services provider's stock worth $3,706,000 after buying an additional 79 shares during the period. EP Wealth Advisors LLC boosted its stake in Ameriprise Financial by 12.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,815 shares of the financial services provider's stock valued at $775,000 after buying an additional 196 shares in the last quarter. Finally, 3Chopt Investment Partners LLC bought a new stake in Ameriprise Financial in the second quarter valued at $360,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insiders Place Their Bets

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the business's stock in a transaction that occurred on 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 owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares of the company's stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMP. Keefe, Bruyette & Woods lowered their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday. Finally, Morgan Stanley boosted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $503.22.

Ameriprise Financial Trading Down 3.7 %

Shares of NYSE AMP traded down $21.30 during midday trading on Thursday, hitting $553.83. The stock had a trading volume of 568,995 shares, compared to its average volume of 480,111. The firm has a market cap of $53.73 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. Ameriprise Financial, Inc. has a fifty-two week low of $378.05 and a fifty-two week high of $582.05. 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 company's 50-day simple moving average is $548.61 and its 200 day simple moving average is $496.50.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 68.52% and a net margin of 15.99%. Research analysts anticipate that Ameriprise Financial, Inc. will post 33.96 EPS for the current year.

Ameriprise Financial Dividend Announcement

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 paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.07%. Ameriprise Financial's payout ratio is presently 22.73%.

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.