Financial Counselors Inc. Decreases Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Financial Counselors Inc. lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,400 shares of the financial services provider's stock after selling 1,891 shares during the quarter. Ameriprise Financial makes up about 1.0% of Financial Counselors Inc.'s investment portfolio, making the stock its 22nd largest position. Financial Counselors Inc. owned about 0.13% of Ameriprise Financial worth $65,169,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. Penobscot Investment Management Company Inc. lifted its position in shares of Ameriprise Financial by 31.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,960 shares of the financial services provider's stock worth $2,108,000 after buying an additional 953 shares in the last quarter. TIAA Trust National Association increased its stake in Ameriprise Financial by 15.1% in the 4th quarter. TIAA Trust National Association now owns 2,946 shares of the financial services provider's stock worth $1,569,000 after acquiring an additional 387 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $169,000. Congress Wealth Management LLC DE boosted its position in shares of Ameriprise Financial by 9.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 5,139 shares of the financial services provider's stock valued at $2,737,000 after acquiring an additional 447 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Ameriprise Financial by 33.2% in the fourth quarter. LPL Financial LLC now owns 71,685 shares of the financial services provider's stock valued at $38,167,000 after purchasing an additional 17,875 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

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Ameriprise Financial Trading Down 3.4 %

Shares of NYSE AMP traded down $17.20 during mid-day trading on Friday, reaching $481.64. The company had a trading volume of 460,907 shares, compared to its average volume of 484,365. The stock has a market cap of $46.29 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The business's 50-day moving average is $524.55 and its 200-day moving average is $523.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

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

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 yield of 1.23%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AMP shares. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Royal Bank of Canada restated an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of "Hold" and a consensus price target of $514.89.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction 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 sale, the chief executive officer now owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.96% of the stock is currently owned by company 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.