Dimensional Fund Advisors LP Sells 18,703 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Dimensional Fund Advisors LP reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,160,849 shares of the financial services provider's stock after selling 18,703 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.20% of Ameriprise Financial worth $618,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Cerro Pacific Wealth Advisors LLC lifted its holdings in shares of Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock valued at $307,000 after purchasing an additional 19 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 20 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Ameriprise Financial by 0.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock worth $1,419,000 after acquiring an additional 20 shares during the period. Dakota Wealth Management raised its holdings in shares of Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after purchasing an additional 21 shares during the last quarter. Finally, Abel Hall LLC lifted its position in Ameriprise Financial by 4.2% during the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock valued at $275,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMP shares. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. UBS Group lowered shares of 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. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $517.44.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $2.81 during mid-day trading on Thursday, reaching $474.66. The company's stock had a trading volume of 446,502 shares, compared to its average volume of 562,832. The stock has a fifty day moving average of $489.94 and a two-hundred day moving average of $522.27. The firm has a market capitalization of $45.48 billion, a PE ratio of 14.36, a P/E/G ratio of 1.15 and a beta of 1.23. 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 current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.17 by $0.33. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. 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 1.25%. Ameriprise Financial's payout ratio is 17.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the company'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 in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by insiders.

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.