Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 99.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,662 shares of the financial services provider's stock after buying an additional 3,325 shares during the period. Tower Research Capital LLC TRC's holdings in Ameriprise Financial were worth $3,547,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerro Pacific Wealth Advisors LLC increased its position in shares of Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock worth $307,000 after purchasing an additional 19 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after buying an additional 20 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of Ameriprise Financial by 0.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after acquiring an additional 20 shares during the period. Dakota Wealth Management increased its holdings in shares of Ameriprise Financial by 2.7% in the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after acquiring an additional 21 shares during the period. Finally, Abel Hall LLC raised its position in Ameriprise Financial by 4.2% in the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock valued at $275,000 after purchasing an additional 21 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 2.8 %

Shares of NYSE AMP opened at $451.75 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $492.90 and a 200 day moving average price of $523.00. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The stock has a market capitalization of $43.28 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

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, topping 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%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid 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 yield of 1.31%. Ameriprise Financial's payout ratio is 17.91%.

Analyst Ratings Changes

A number of brokerages have recently commented on AMP. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley lifted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $517.44.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company'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 owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company's stock.

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.

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