Allspring Global Investments Holdings LLC Sells 12,306 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Allspring Global Investments Holdings LLC reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 17.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,058 shares of the financial services provider's stock after selling 12,306 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of Ameriprise Financial worth $30,768,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Avidian Wealth Enterprises LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $236,000. Certuity LLC boosted its stake in Ameriprise Financial by 58.1% in the fourth quarter. Certuity LLC now owns 2,875 shares of the financial services provider's stock valued at $1,531,000 after acquiring an additional 1,056 shares during the last quarter. Authentikos Wealth Advisory LLC bought a new position in Ameriprise Financial in the fourth quarter valued at approximately $319,000. Sovran Advisors LLC bought a new position in Ameriprise Financial in the fourth quarter valued at approximately $2,576,000. Finally, Essex Financial Services Inc. boosted its stake in Ameriprise Financial by 4.3% in the fourth quarter. Essex Financial Services Inc. now owns 748 shares of the financial services provider's stock valued at $398,000 after acquiring an additional 31 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 transaction, the chief executive officer now owns 14,023 shares of the company's stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the director now directly owns 10,000 shares of the company's stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $510.44.

Ameriprise Financial Stock Up 0.0 %

Shares of NYSE:AMP traded up $0.22 during midday trading on Tuesday, reaching $546.15. 225,125 shares of the company were exchanged, compared to its average volume of 547,299. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $541.06 and a two-hundred day simple moving average of $507.16. The firm has a market cap of $52.98 billion, a PE ratio of 16.51, a P/E/G ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data 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 net margin of 19.70% and a return on equity of 69.35%. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.08%. Ameriprise Financial's payout ratio is currently 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.