Voya Investment Management LLC Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Voya Investment Management LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,757 shares of the financial services provider's stock after selling 10,910 shares during the period. Voya Investment Management LLC owned 0.11% of Ameriprise Financial worth $56,841,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cerro Pacific Wealth Advisors LLC increased its stake in shares of Ameriprise Financial by 3.4% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock valued at $307,000 after buying an additional 19 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 20 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings 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 purchasing an additional 20 shares during the period. Dakota Wealth Management grew its stake in shares of 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 purchasing an additional 21 shares during the last quarter. Finally, Abel Hall LLC grew its stake in shares of Ameriprise Financial by 4.2% in the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock worth $275,000 after purchasing an additional 21 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on AMP shares. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a report on Monday, April 7th. Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Piper Sandler upped 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, four have given 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 an average rating of "Hold" and an average price target of $517.44.

Insider Activity

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company's 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 transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last quarter. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Up 0.5 %

Shares of Ameriprise Financial stock traded up $2.22 during trading on Monday, reaching $468.16. 457,010 shares of the company traded hands, compared to its average volume of 491,046. The firm has a market capitalization of $44.86 billion, a PE ratio of 14.16, a P/E/G ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a 50 day moving average price of $485.25 and a 200-day moving average price of $522.27. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.39 earnings per share. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Monday, May 5th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial announced that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.