Weaver C. Barksdale & Associates Inc. Reduces Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Weaver C. Barksdale & Associates Inc. cut its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,449 shares of the financial services provider's stock after selling 574 shares during the period. Ameriprise Financial accounts for about 2.3% of Weaver C. Barksdale & Associates Inc.'s investment portfolio, making the stock its 5th biggest position. Weaver C. Barksdale & Associates Inc.'s holdings in Ameriprise Financial were worth $2,369,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its holdings in shares of Ameriprise Financial by 79,679.4% in the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock worth $197,943,000 after acquiring an additional 371,306 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock worth $222,103,000 after purchasing an additional 338,298 shares during the last quarter. Amundi increased its stake in shares of Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider's stock valued at $343,546,000 after buying an additional 208,195 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter valued at about $108,620,000. 83.95% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

AMP has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. UBS Group cut shares of 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 target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $514.89.

Ameriprise Financial Stock Down 3.4 %

Shares of AMP traded down $17.20 during midday trading on Friday, hitting $481.64. The stock had a trading volume of 460,907 shares, compared to its average volume of 484,365. 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 cap of $46.29 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The company has a 50 day simple moving average of $524.55 and a two-hundred day simple moving average of $523.05. 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 released its quarterly 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 69.35% and a net margin of 19.70%. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is currently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 value 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. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.96% 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.