Banque Pictet & Cie SA Trims Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Banque Pictet & Cie SA decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,486 shares of the financial services provider's stock after selling 2,027 shares during the quarter. Banque Pictet & Cie SA's holdings in Ameriprise Financial were worth $11,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $108,000. Wesbanco Bank Inc. lifted its position in Ameriprise Financial by 9.9% in the third quarter. Wesbanco Bank Inc. now owns 1,169 shares of the financial services provider's stock worth $549,000 after buying an additional 105 shares during the last quarter. Creative Planning boosted its stake in Ameriprise Financial by 1.6% during the third quarter. Creative Planning now owns 22,571 shares of the financial services provider's stock worth $10,604,000 after buying an additional 348 shares during the period. Asset Dedication LLC increased its position in Ameriprise Financial by 74.3% during the third quarter. Asset Dedication LLC now owns 176 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 75 shares during the last quarter. Finally, Bfsg LLC raised its stake in shares of Ameriprise Financial by 13.1% in the third quarter. Bfsg LLC now owns 4,477 shares of the financial services provider's stock valued at $2,103,000 after acquiring an additional 520 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $510.44.

Ameriprise Financial Stock Up 0.1 %

Shares of AMP traded up $0.55 during midday trading on Tuesday, reaching $546.48. 618,265 shares of the stock were exchanged, compared to its average volume of 560,483. The company has a market capitalization of $53.01 billion, a P/E ratio of 16.53, a PEG ratio of 1.18 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company's 50 day moving average is $541.06 and its two-hundred day moving average is $507.16.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was 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 in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate 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.