ExodusPoint Capital Management LP Sells 2,836 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

ExodusPoint Capital Management LP decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 42.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,782 shares of the financial services provider’s stock after selling 2,836 shares during the period. ExodusPoint Capital Management LP’s holdings in Ameriprise Financial were worth $2,014,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMP. Jones Financial Companies Lllp lifted its stake in Ameriprise Financial by 24.3% during the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 327 shares during the period. Czech National Bank boosted its position in Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after buying an additional 1,033 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Ameriprise Financial in the fourth quarter worth about $43,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $399,000. Finally, Highland Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $1,286,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a research report on Monday. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, UBS Group cut 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 research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $515.20.

Ameriprise Financial Stock Down 0.5 %

Shares of NYSE AMP opened at $425.61 on Wednesday. The company has a market cap of $40.91 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.15 and a beta of 1.23. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock has a 50-day moving average price of $506.87 and a two-hundred day moving average price of $523.32.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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%. As a group, analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.39%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insiders Place Their Bets

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

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.