Intech Investment Management LLC Sells 1,875 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Intech Investment Management LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 29.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,404 shares of the financial services provider's stock after selling 1,875 shares during the period. Intech Investment Management LLC's holdings in Ameriprise Financial were worth $2,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Howard Capital Management Group LLC raised its position in Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider's stock valued at $840,000 after buying an additional 178 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Ameriprise Financial during the third quarter worth $3,278,000. Advisors Asset Management Inc. raised its stake in shares of Ameriprise Financial by 11.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider's stock worth $887,000 after purchasing an additional 188 shares during the period. First Horizon Advisors Inc. grew its position in Ameriprise Financial by 10.1% during the third quarter. First Horizon Advisors Inc. now owns 4,019 shares of the financial services provider's stock valued at $1,889,000 after buying an additional 369 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $208,000. 83.95% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

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

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last 90 days. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $3.86 on Tuesday, hitting $512.01. The company's stock had a trading volume of 433,390 shares, compared to its average volume of 458,993. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year 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. The company has a market capitalization of $49.21 billion, a PE ratio of 15.49, a PEG ratio of 1.15 and a beta of 1.33. The company has a 50-day simple moving average of $527.84 and a 200 day simple moving average of $521.83.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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%. Sell-side 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 given a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.16%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

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.