Alley Investment Management Company LLC Increases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Alley Investment Management Company LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,388 shares of the financial services provider's stock after acquiring an additional 507 shares during the period. Ameriprise Financial comprises 3.8% of Alley Investment Management Company LLC's investment portfolio, making the stock its 3rd biggest holding. Alley Investment Management Company LLC owned 0.06% of Ameriprise Financial worth $30,023,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AMP. Proficio Capital Partners LLC grew its stake in shares of Ameriprise Financial by 79,679.4% in the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock worth $197,943,000 after acquiring an additional 371,306 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after buying an additional 338,298 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Ameriprise Financial by 816.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider's stock worth $116,698,000 after buying an additional 195,271 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Ameriprise Financial by 144.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider's stock worth $114,345,000 after buying an additional 143,648 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 in the last three months. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded down $1.72 during trading on Thursday, hitting $507.37. 98,294 shares of the company were exchanged, compared to its average volume of 457,307. The company has a market cap of $48.77 billion, a PE ratio of 15.39, a P/E/G ratio of 1.15 and a beta of 1.33. 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 current ratio of 0.59 and a quick ratio of 0.59. The stock has a 50 day moving average of $538.39 and a 200 day moving average of $516.69.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping the consensus estimate 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, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analyst Weigh In

A number of analysts recently commented on AMP shares. Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $514.89.

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.