Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,267 shares of the financial services provider's stock after selling 588 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Ameriprise Financial were worth $675,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. TCTC Holdings LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the fourth quarter worth about $28,000. Whipplewood Advisors LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred 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. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last 90 days. 0.73% of the stock is owned by insiders.

Ameriprise Financial Trading Up 3.2 %

Shares of AMP stock traded up $14.64 during trading on Tuesday, hitting $465.79. 50,905 shares of the stock traded hands, compared to its average volume of 490,555. The firm's fifty day moving average price is $492.90 and its 200-day moving average price is $523.00. 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 firm has a market capitalization of $44.63 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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%. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors 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 dividend on an annualized basis and a dividend yield of 1.27%. Ameriprise Financial's payout ratio is 17.91%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMP shares. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler lifted 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. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock 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. Finally, Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $517.44.

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.