Blue Trust Inc. Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Blue Trust Inc. cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 50.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 907 shares of the financial services provider's stock after selling 924 shares during the quarter. Blue Trust Inc.'s holdings in Ameriprise Financial were worth $483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Czech National Bank boosted its position in shares of Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock valued at $11,200,000 after buying an additional 1,033 shares during the last quarter. Bridgewater Associates LP boosted its position in Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider's stock worth $23,730,000 after purchasing an additional 24,968 shares during the last quarter. Empowered Funds LLC boosted its position in Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider's stock worth $3,768,000 after purchasing an additional 1,329 shares during the last quarter. SpiderRock Advisors LLC boosted its position in Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider's stock worth $1,521,000 after purchasing an additional 1,867 shares during the last quarter. Finally, Aljian Capital Management LLC purchased a new position in Ameriprise Financial in the third quarter worth about $458,000. 83.95% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company's stock, 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. In the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

AMP traded down $10.83 on Friday, hitting $530.18. 690,237 shares of the company's stock traded hands, compared to its average volume of 555,326. The company's 50 day simple moving average is $540.89 and its 200-day simple moving average is $508.68. The firm has a market cap of $51.44 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.19 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) 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%. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current 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 issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is 17.91%.

Analyst Upgrades and Downgrades

AMP has been the topic of several research reports. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and an average target price of $510.44.

About Ameriprise Financial

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.