ExodusPoint Capital Management LP Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

ExodusPoint Capital Management LP lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 42.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,782 shares of the financial services provider's stock after selling 2,836 shares during the quarter. ExodusPoint Capital Management LP's holdings in Ameriprise Financial were worth $2,014,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Geller Advisors LLC boosted its stake in shares of Ameriprise Financial by 2.2% in the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock valued at $412,000 after purchasing an additional 19 shares during the period. Cerro Pacific Wealth Advisors LLC increased its holdings in Ameriprise Financial by 3.4% during the 4th 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 during the period. SRS Capital Advisors Inc. boosted its stake in shares of Ameriprise Financial by 40.0% in the 4th 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 period. HighPoint Advisor Group LLC increased its stake in shares of Ameriprise Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock worth $1,419,000 after buying an additional 20 shares during the period. Finally, Dakota Wealth Management lifted its stake in Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock worth $425,000 after acquiring an additional 21 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

Ameriprise Financial Stock Up 1.6 %

Shares of AMP traded up $7.31 during trading on Monday, reaching $476.08. The company's stock had a trading volume of 68,765 shares, compared to its average volume of 494,286. The company has a market cap of $45.76 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.15 and a beta of 1.23. The company has a fifty day moving average of $501.06 and a two-hundred day moving average of $523.45. 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 twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data 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%. 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 given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio is 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction that occurred 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 directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last ninety days. Company 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.