Wells Fargo & Company MN Has $78.03 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Wells Fargo & Company MN decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,560 shares of the financial services provider's stock after selling 12,556 shares during the quarter. Wells Fargo & Company MN owned approximately 0.15% of Ameriprise Financial worth $78,033,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Spahn Wealth & Retirement LLC bought a new position in Ameriprise Financial in the fourth quarter valued at approximately $423,000. Arete Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at $247,000. World Investment Advisors raised its stake in Ameriprise Financial by 16.0% during the 4th quarter. World Investment Advisors now owns 1,627 shares of the financial services provider's stock worth $866,000 after buying an additional 225 shares during the period. OneAscent Financial Services LLC grew its stake in Ameriprise Financial by 71.9% in the fourth quarter. OneAscent Financial Services LLC now owns 751 shares of the financial services provider's stock valued at $400,000 after acquiring an additional 314 shares during the period. Finally, Huntington National Bank increased its holdings in shares of Ameriprise Financial by 6.8% in the fourth quarter. Huntington National Bank now owns 2,971 shares of the financial services provider's stock worth $1,582,000 after acquiring an additional 189 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm'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 directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.73% of the company's stock.

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Ameriprise Financial Price Performance

AMP stock traded up $7.31 during midday trading on Monday, reaching $476.08. The company had a trading volume of 68,765 shares, compared to its average volume of 494,286. The company has a market capitalization of $45.76 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. 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, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The stock has a 50 day moving average price of $501.06 and a 200-day moving average price of $523.45.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.24%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMP. Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley raised their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price of $517.44.

Ameriprise Financial 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.