Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,661 shares of the financial services provider's stock after selling 1,359 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Ameriprise Financial were worth $15,792,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its holdings 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 acquiring an additional 327 shares in the last quarter. Czech National Bank boosted its position in Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock valued at $11,200,000 after buying an additional 1,033 shares during the last quarter. Empowered Funds LLC boosted its position in Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider's stock valued at $3,768,000 after buying an additional 1,329 shares during the last quarter. Bridgewater Associates LP boosted its position in Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider's stock valued at $23,730,000 after buying an additional 24,968 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Ameriprise Financial in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 83.95% of the company's stock.

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Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company's stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 in the last three months. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMP shares. Morgan Stanley upped their target price 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. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler upped 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. Finally, Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. 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. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $514.89.

Ameriprise Financial Price Performance

Shares of AMP stock traded down $6.26 during trading hours on Thursday, hitting $492.77. 433,432 shares of the company's stock were exchanged, compared to its average volume of 456,562. 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 firm has a market cap of $47.36 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.15 and a beta of 1.33. The firm has a 50 day moving average of $529.32 and a two-hundred day moving average of $520.13. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping 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%. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

About Ameriprise Financial

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.