Lowe Brockenbrough & Co. Inc. Sells 818 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Lowe Brockenbrough & Co. Inc. decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,894 shares of the financial services provider's stock after selling 818 shares during the quarter. Ameriprise Financial accounts for 1.2% of Lowe Brockenbrough & Co. Inc.'s portfolio, making the stock its 18th largest position. Lowe Brockenbrough & Co. Inc.'s holdings in Ameriprise Financial were worth $19,111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in Ameriprise Financial by 24.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock valued at $891,000 after acquiring an additional 327 shares during the period. Czech National Bank grew its holdings in shares of Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock worth $11,200,000 after purchasing an additional 1,033 shares during the last quarter. Bridgewater Associates LP raised its holdings in Ameriprise Financial by 97.8% during the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider's stock valued at $23,730,000 after buying an additional 24,968 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Ameriprise Financial in the 4th quarter worth $43,000. Finally, Benjamin Edwards Inc. raised its stake in shares of Ameriprise Financial by 1,261.6% during the third quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider's stock valued at $550,000 after acquiring an additional 1,085 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Ameriprise Financial Stock Up 0.8 %

AMP stock traded up $3.86 on Tuesday, reaching $512.01. 433,390 shares of the company traded hands, compared to its average volume of 458,993. 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 firm has a fifty day simple moving average of $527.84 and a 200-day simple moving average of $521.83. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a market cap of $49.21 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

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

Ameriprise Financial Dividend Announcement

The company 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 dividend yield of 1.16%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is currently 17.91%.

Insider Activity at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the business'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 transaction, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by corporate 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.