Franklin Resources Inc. Has $134.29 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Franklin Resources Inc. raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 252,213 shares of the financial services provider's stock after buying an additional 3,634 shares during the period. Franklin Resources Inc. owned about 0.26% of Ameriprise Financial worth $134,285,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AMP. Axiom Investors LLC DE increased its stake in Ameriprise Financial by 11.8% in the 4th quarter. Axiom Investors LLC DE now owns 256,120 shares of the financial services provider's stock worth $136,366,000 after purchasing an additional 27,049 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Ameriprise Financial by 19.1% in the fourth quarter. Wellington Management Group LLP now owns 1,627 shares of the financial services provider's stock worth $866,000 after acquiring an additional 261 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Ameriprise Financial by 3.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 27,251 shares of the financial services provider's stock valued at $14,509,000 after acquiring an additional 989 shares during the period. IPG Investment Advisors LLC acquired a new position in Ameriprise Financial in the 4th quarter worth approximately $1,353,000. Finally, RWA Wealth Partners LLC grew its position in Ameriprise Financial by 3.0% during the 4th quarter. RWA Wealth Partners LLC now owns 4,337 shares of the financial services provider's stock worth $2,309,000 after purchasing an additional 127 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Morgan Stanley raised their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $514.89.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were 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 in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were 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 owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Down 7.5 %

AMP traded down $34.20 during midday trading on Friday, hitting $421.61. 828,088 shares of the company's stock traded hands, compared to its average volume of 487,261. 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 company has a market cap of $40.52 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The stock's fifty day simple moving average is $515.46 and its 200-day simple moving average is $523.50.

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

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.40%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Ameriprise Financial Company 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.