Generali Asset Management SPA SGR Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Generali Asset Management SPA SGR acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,800 shares of the financial services provider's stock, valued at approximately $6,815,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the 4th quarter worth $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Analyst Ratings Changes

A number of equities 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 research note on Friday, January 31st. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased 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. Morgan Stanley lifted 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $514.89.

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Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the company'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 directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares in the company, 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. Over the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Trading Up 0.1 %

Ameriprise Financial stock traded up $0.33 during midday trading on Friday, reaching $493.41. 1,409,453 shares of the stock traded hands, compared to its average volume of 459,124. The firm has a market cap of $47.43 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. 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 50-day simple moving average of $528.03 and a two-hundred day simple moving average of $520.79. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio is currently 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.