Erste Asset Management GmbH Sells 10,637 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Erste Asset Management GmbH reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 21.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,158 shares of the financial services provider's stock after selling 10,637 shares during the quarter. Erste Asset Management GmbH's holdings in Ameriprise Financial were worth $20,462,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $36,000. Finally, SRS Capital Advisors Inc. lifted its holdings in Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after buying an additional 20 shares during the period. 83.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the business'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 value of $2,499,128.52. Following the sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 6,000 shares of the firm'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 transaction, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.73% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have commented on AMP shares. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $514.89.

Ameriprise Financial Stock Up 1.4 %

Shares of NYSE:AMP traded up $6.69 during trading on Monday, hitting $492.52. 573,595 shares of the company's stock traded hands, compared to its average volume of 458,842. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. 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 has a market cap of $47.34 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The company has a 50-day moving average price of $531.56 and a 200-day moving average price of $519.64.

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

Ameriprise Financial Dividend Announcement

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