Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,687 shares of the financial services provider's stock after buying an additional 781 shares during the period. DnB Asset Management AS's holdings in Ameriprise Financial were worth $9,950,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in Ameriprise Financial in the fourth quarter worth about $28,000. Whipplewood Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of research analyst reports. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler raised their price target 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. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $514.89.

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Ameriprise Financial Trading Down 7.0 %

Shares of AMP stock traded down $34.65 during trading hours on Thursday, reaching $459.71. 140,886 shares of the stock were exchanged, compared to its average volume of 483,671. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company's 50-day moving average price is $520.45 and its 200-day moving average price is $524.14. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The firm has a market capitalization of $44.19 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

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 for the quarter, beating the consensus estimate 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, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared 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. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's payout ratio is presently 17.91%.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares of the company's stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company's stock.

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.