Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,358 shares of the financial services provider's stock after selling 3,743 shares during the quarter. Cibc World Markets Corp's holdings in Ameriprise Financial were worth $8,177,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp raised its stake in shares of Ameriprise Financial by 24.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after purchasing an additional 327 shares during the last quarter. Czech National Bank raised its stake in shares of Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock worth $11,200,000 after purchasing an additional 1,033 shares during the last quarter. Empowered Funds LLC raised its stake in shares of 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. Bridgewater Associates LP raised its position in Ameriprise Financial by 97.8% during the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider's stock valued at $23,730,000 after acquiring an additional 24,968 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $43,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 over the last quarter. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded up $0.33 on Friday, reaching $493.41. The company's stock had a trading volume of 1,409,453 shares, compared to its average volume of 459,068. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $528.03 and a 200-day moving average price of $520.24. The company has a market capitalization of $47.43 billion, a P/E ratio of 14.92, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results 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%. Analysts expect 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. 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 yield of 1.20%. Ameriprise Financial's dividend payout ratio is currently 17.91%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMP. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. 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 report on Friday, January 31st. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $514.89.

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.