MML Investors Services LLC Sells 2,048 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

MML Investors Services LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,968 shares of the financial services provider's stock after selling 2,048 shares during the period. MML Investors Services LLC owned 0.09% of Ameriprise Financial worth $46,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC bought a new stake in Ameriprise Financial during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial during the fourth quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new stake in Ameriprise Financial in the fourth quarter worth approximately $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $36,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.8 %

Shares of AMP traded up $3.91 during mid-day trading on Wednesday, reaching $471.56. The company had a trading volume of 909,134 shares, compared to its average volume of 491,151. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $45.18 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The firm has a 50-day moving average price of $489.94 and a 200 day moving average price of $522.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.26%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMP. UBS Group downgraded 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 report on Monday, January 6th. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a report on Monday, April 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $517.44.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last quarter. 0.73% of the stock is currently owned by insiders.

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.