Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Cut by Lyrical Asset Management LP

Lyrical Asset Management LP decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 806,328 shares of the financial services provider's stock after selling 20,852 shares during the period. Ameriprise Financial makes up about 6.4% of Lyrical Asset Management LP's holdings, making the stock its largest holding. Lyrical Asset Management LP owned 0.83% of Ameriprise Financial worth $429,313,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMP. TCTC Holdings LLC purchased a new position in Ameriprise Financial in the fourth quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm'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 transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares of the company's stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on 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 completion of the sale, the insider now directly owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

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Ameriprise Financial Stock Up 1.5 %

Shares of AMP traded up $6.94 on Friday, reaching $463.46. The stock had a trading volume of 249,302 shares, compared to its average volume of 495,010. The company has a 50-day simple moving average of $502.39 and a 200-day simple moving average of $523.02. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $44.55 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

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, 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%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio is 17.91%.

Analyst Ratings Changes

Several research analysts have recently commented on AMP shares. Morgan Stanley lifted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research report on Monday. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the company from $580.00 to $570.00 in a research report 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. 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price of $510.20.

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.