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Swedbank AB Sells 1,322 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Ameriprise Financial logo with Finance background

Swedbank AB trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,354 shares of the financial services provider's stock after selling 1,322 shares during the quarter. Swedbank AB owned approximately 0.25% of Ameriprise Financial worth $131,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Driehaus Capital Management LLC grew its holdings in shares of Ameriprise Financial by 28.1% during the second quarter. Driehaus Capital Management LLC now owns 597 shares of the financial services provider's stock valued at $255,000 after buying an additional 131 shares during the last quarter. Creative Planning boosted its holdings in shares of Ameriprise Financial by 2.2% in the 2nd quarter. Creative Planning now owns 22,223 shares of the financial services provider's stock worth $9,493,000 after buying an additional 487 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Ameriprise Financial by 9.4% during the 2nd quarter. NewEdge Advisors LLC now owns 9,166 shares of the financial services provider's stock valued at $3,916,000 after acquiring an additional 789 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Ameriprise Financial by 0.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,674 shares of the financial services provider's stock valued at $3,706,000 after purchasing an additional 79 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in Ameriprise Financial in the 2nd quarter worth about $120,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

NYSE AMP traded down $5.01 during trading hours on Friday, reaching $542.83. 797,667 shares of the stock traded hands, compared to its average volume of 429,734. The stock has a 50 day simple moving average of $547.55 and a two-hundred day simple moving average of $498.01. Ameriprise Financial, Inc. has a 1 year low of $378.05 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $52.66 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 0.87 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its 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 69.46% and a net margin of 19.70%. On average, analysts predict that Ameriprise Financial, Inc. will post 39.04 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of analyst reports. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating on the stock in a research note on Friday, January 10th. Piper Sandler raised their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, January 27th. Finally, Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $509.33.

View Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Company Profile

(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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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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