Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,388 shares of the financial services provider’s stock after selling 2,633 shares during the quarter. Empowered Funds LLC’s holdings in Ameriprise Financial were worth $2,869,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Geode Capital Management LLC lifted its position in Ameriprise Financial by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after buying an additional 31,158 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after acquiring an additional 338,298 shares during the last quarter. Maj Invest Holding A S boosted its holdings in shares of Ameriprise Financial by 67.5% in the 4th quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock valued at $187,466,000 after purchasing an additional 141,927 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Ameriprise Financial by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider’s stock worth $116,603,000 after buying an additional 8,989 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $540.66 on Friday. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a market capitalization of $52.45 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $541.99 and a 200-day simple moving average of $504.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 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 issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.09%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

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.