Conning Inc. Sells 17,701 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Conning Inc. lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 21.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,021 shares of the financial services provider’s stock after selling 17,701 shares during the period. Conning Inc. owned about 0.07% of Ameriprise Financial worth $35,152,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMP. Oakworth Capital Inc. acquired a new position in Ameriprise Financial in the third quarter worth about $31,000. Sound Income Strategies LLC acquired a new position in Ameriprise Financial in the fourth quarter worth about $36,000. Golden State Wealth Management LLC acquired a new position in Ameriprise Financial in the fourth quarter worth about $38,000. Albion Financial Group UT acquired a new position in Ameriprise Financial in the fourth quarter worth about $46,000. Finally, Peterson Financial Group Inc. acquired a new position in Ameriprise Financial in the third quarter worth about $45,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AMP. Piper Sandler increased their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. One 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction 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 transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $538.59 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The firm has a market cap of $52.25 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.18 and a beta of 1.36. The firm has a 50 day simple moving average of $544.84 and a 200 day simple moving average of $500.82. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.68 earnings per share for the current fiscal 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. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Ameriprise Financial’s payout ratio is presently 17.91%.

Ameriprise Financial 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.