Conning Inc. Has $35.15 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Conning Inc. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 21.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,021 shares of the financial services provider's stock after selling 17,701 shares during the period. Conning Inc. owned about 0.07% of Ameriprise Financial worth $35,152,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Czech National Bank raised its stake in shares of Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock valued at $11,200,000 after purchasing an additional 1,033 shares during the period. Bridgewater Associates LP raised its stake in shares of Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider's stock valued at $23,730,000 after purchasing an additional 24,968 shares during the period. Empowered Funds LLC raised its stake in shares of Ameriprise Financial by 19.9% in the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider's stock valued at $3,768,000 after purchasing an additional 1,329 shares during the period. SpiderRock Advisors LLC raised its stake in shares of Ameriprise Financial by 136.3% in the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider's stock valued at $1,521,000 after purchasing an additional 1,867 shares during the period. Finally, Aljian Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter valued at about $458,000. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on AMP shares. 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 note on Monday, February 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler lifted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. One research 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's stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and an average target price of $510.44.

Ameriprise Financial Stock Performance

Ameriprise Financial stock traded down $2.00 during midday trading on Wednesday, reaching $526.80. 665,119 shares of the company's stock were exchanged, compared to its average volume of 527,029. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The firm has a market cap of $51.11 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 1.18 and a beta of 1.36. The stock's 50-day simple moving average is $542.68 and its 200 day simple moving average is $504.00.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. On average, analysts expect that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Monday, February 10th. Ameriprise Financial's payout ratio is currently 17.91%.

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.