Cerity Partners LLC Has $36.78 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Cerity Partners LLC lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,077 shares of the financial services provider's stock after selling 20,010 shares during the period. Cerity Partners LLC owned about 0.07% of Ameriprise Financial worth $36,779,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 12.1% during the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock worth $2,556,683,000 after purchasing an additional 516,437 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Ameriprise Financial by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock worth $1,407,607,000 after buying an additional 38,141 shares during the last quarter. Norges Bank bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $689,272,000. Amundi boosted its holdings in shares of Ameriprise Financial by 48.0% in the 4th 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 during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider's stock valued at $320,692,000 after buying an additional 5,048 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

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Insider Buying and Selling

In other 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 sale, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of the 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 transaction, the chief executive officer now owns 14,023 shares of the company's stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last three months. Company insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on AMP. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research note on Monday, April 7th. Piper Sandler increased their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $517.44.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $13.01 during trading on Friday, reaching $469.53. The company had a trading volume of 612,195 shares, compared to its average volume of 495,958. The firm's fifty day moving average is $501.06 and its 200 day moving average is $523.45. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $45.13 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. 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 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, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.26%. Ameriprise Financial's dividend payout ratio is currently 17.91%.

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.