PNC Financial Services Group Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 370,095 shares of the financial services provider's stock after selling 22,350 shares during the period. PNC Financial Services Group Inc. owned approximately 0.38% of Ameriprise Financial worth $197,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in AMP. Proficio Capital Partners LLC increased its holdings in shares of Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock worth $197,943,000 after buying an additional 371,306 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after buying an additional 358,699 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock worth $222,103,000 after buying an additional 338,298 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $108,620,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Ameriprise Financial by 816.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider's stock worth $116,698,000 after buying an additional 195,271 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.
Insider Transactions at Ameriprise Financial
In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business'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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 14,023 shares of the company's stock, 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. In the last three months, insiders sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $514.89.
Check Out Our Latest Stock Report on AMP
Ameriprise Financial Stock Down 0.7 %
Shares of NYSE:AMP traded down $3.67 during trading on Friday, hitting $499.28. The company's stock had a trading volume of 450,029 shares, compared to its average volume of 459,355. The business has a 50 day moving average price of $536.85 and a two-hundred day moving average price of $517.62. The company has a market capitalization of $47.99 billion, a PE ratio of 15.10, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.
Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.
Ameriprise Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.19%. Ameriprise Financial's dividend payout ratio (DPR) is currently 17.91%.
About Ameriprise Financial
(
Free Report)
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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