Fmr LLC Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

FMR LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 986,017 shares of the financial services provider's stock after selling 46,528 shares during the period. FMR LLC owned 1.02% of Ameriprise Financial worth $524,985,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AMP. Aster Capital Management DIFC Ltd acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $677,000. Federated Hermes Inc. grew its position in Ameriprise Financial by 5.7% in the 4th quarter. Federated Hermes Inc. now owns 517,669 shares of the financial services provider's stock valued at $275,616,000 after buying an additional 27,914 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Ameriprise Financial by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 4,079 shares of the financial services provider's stock valued at $2,172,000 after buying an additional 31 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Ameriprise Financial during the 4th quarter worth $623,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth $16,044,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction 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 completion of the sale, the insider now owns 7,237 shares of the company's stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % 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 worth $6,263,989 over the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

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Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $8.77 on Monday, hitting $477.54. The company's stock had a trading volume of 79,898 shares, compared to its average volume of 494,332. The stock has a 50 day moving average of $501.06 and a 200-day moving average of $523.45. The company has a market capitalization of $45.90 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. 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 current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating analysts' consensus estimates 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, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The company 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 annualized dividend and a yield of 1.24%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Finally, Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and a consensus target price of $517.44.

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.