Alliancebernstein L.P. Sells 9,858 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Alliancebernstein L.P. lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,766 shares of the financial services provider's stock after selling 9,858 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of Ameriprise Financial worth $72,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Geller Advisors LLC lifted its position in Ameriprise Financial by 2.2% during the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock valued at $412,000 after purchasing an additional 19 shares in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Ameriprise Financial by 3.4% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock valued at $307,000 after buying an additional 19 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 20 shares during the period. Dakota Wealth Management increased its holdings in Ameriprise Financial by 2.7% in the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock worth $425,000 after acquiring an additional 21 shares in the last quarter. Finally, Abel Hall LLC raised its stake in Ameriprise Financial by 4.2% during the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock worth $275,000 after acquiring an additional 21 shares during the period. Institutional investors own 83.95% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. UBS Group lowered 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 research note on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler boosted 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. Finally, Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $515.20.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Trading Up 3.2 %

NYSE AMP traded up $13.88 during trading hours on Tuesday, hitting $441.83. 157,503 shares of the company were exchanged, compared to its average volume of 551,738. The stock has a market cap of $42.47 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The stock has a 50-day moving average price of $512.78 and a 200 day moving average price of $524.26. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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%. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.34%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

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.