Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 658,442 shares of the financial services provider's stock after selling 40,178 shares during the period. Envestnet Asset Management Inc. owned about 0.68% of Ameriprise Financial worth $350,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Ameriprise Financial by 24.3% during the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock valued at $891,000 after buying an additional 327 shares during the last quarter. Czech National Bank grew its position in 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 acquiring an additional 1,033 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Ameriprise Financial in the fourth quarter worth $43,000. Benjamin Edwards Inc. lifted its position in shares of Ameriprise Financial by 1,261.6% during the third quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider's stock worth $550,000 after purchasing an additional 1,085 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $399,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

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Ameriprise Financial Stock Up 1.8 %

AMP traded up $8.27 on Friday, hitting $464.79. The company had a trading volume of 208,293 shares, compared to its average volume of 494,882. The stock has a market capitalization of $44.67 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.15 and a beta of 1.23. The stock has a fifty day moving average price of $502.39 and a 200-day moving average price of $523.02. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data 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 net margin of 19.70% and a return on equity of 69.35%. Analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued 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 dividend yield of 1.27%. Ameriprise Financial's dividend payout ratio is presently 17.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective on the stock in a research note on Monday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods dropped their price target on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $510.20.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business'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 sale, the chief executive officer now owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm'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 completion of the transaction, the insider now directly owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 in the last quarter. 0.73% of the stock is currently owned by corporate insiders.

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.