iA Global Asset Management Inc. Has $987,000 Stake in Ameriprise Financial, Inc. (NYSE:AMP)

iA Global Asset Management Inc. cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 49.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,853 shares of the financial services provider's stock after selling 1,826 shares during the period. iA Global Asset Management Inc.'s holdings in Ameriprise Financial were worth $987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Proficio Capital Partners LLC raised its stake in shares of Ameriprise Financial by 79,679.4% during the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider's stock valued at $197,943,000 after purchasing an additional 371,306 shares in the last quarter. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock valued at $2,013,359,000 after buying an additional 358,699 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after buying an additional 338,298 shares during the period. Amundi raised its position in shares of Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after buying an additional 208,195 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $108,620,000. 83.95% of the stock is owned by institutional investors.

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Ameriprise Financial Trading Down 1.1 %

AMP stock traded down $5.42 during mid-day trading on Wednesday, reaching $505.15. 348,165 shares of the stock traded hands, compared to its average volume of 458,106. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The stock's fifty day moving average is $527.56 and its 200-day moving average is $522.40. The company has a market cap of $48.55 billion, a P/E ratio of 15.28, a P/E/G 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.

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, 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%. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMP shares. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company 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 report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $514.89.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the director now directly owns 10,000 shares of the company's stock, valued at approximately $5,231,200. The trade was a 9.09 % 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 valued at $6,263,989. Corporate insiders own 0.96% of the company's stock.

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.