Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Lifted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,879 shares of the financial services provider's stock after buying an additional 2,564 shares during the quarter. Commonwealth Equity Services LLC's holdings in Ameriprise Financial were worth $24,427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $30,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $36,000. Finally, SRS Capital Advisors Inc. grew its holdings 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 worth $37,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Finally, 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average price target of $514.89.

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Ameriprise Financial Stock Down 1.3 %

Shares of AMP traded down $6.26 during trading on Thursday, reaching $492.77. The company's stock had a trading volume of 433,330 shares, compared to its average volume of 456,562. The company has a fifty day moving average of $529.32 and a two-hundred day moving average of $520.13. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a market cap of $47.36 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.15 and a beta of 1.33. 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 announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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%. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared 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 of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. Ameriprise Financial's dividend payout ratio (DPR) is 17.91%.

Insider Activity

In related news, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company's 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 transaction, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by 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.