Mizuho Securities USA LLC Has $4.90 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Mizuho Securities USA LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 44.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,195 shares of the financial services provider's stock after buying an additional 2,828 shares during the period. Mizuho Securities USA LLC's holdings in Ameriprise Financial were worth $4,896,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TCTC Holdings LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at $26,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at $28,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the fourth quarter worth about $30,000. Finally, Sound Income Strategies LLC bought a new position in Ameriprise Financial in the 4th quarter valued at about $36,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Trading Down 1.2 %

Shares of AMP stock traded down $5.92 during trading hours on Thursday, reaching $499.19. 337,791 shares of the stock traded hands, compared to its average volume of 458,028. The business has a fifty day moving average price of $526.91 and a 200 day moving average price of $522.28. 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, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The firm has a market capitalization of $47.98 billion, a PE ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33.

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Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly 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%. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio is currently 17.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction dated 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 directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer now owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

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

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.