LSV Asset Management Lowers Position in Ameriprise Financial, Inc. (NYSE:AMP)

LSV Asset Management lessened its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 29.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 588,286 shares of the financial services provider's stock after selling 243,569 shares during the quarter. LSV Asset Management owned 0.61% of Ameriprise Financial worth $313,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMP. Jones Financial Companies Lllp boosted its stake in Ameriprise Financial by 24.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider's stock worth $891,000 after buying an additional 327 shares in the last quarter. Czech National Bank lifted its stake in 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. SBI Securities Co. Ltd. bought a new position in shares of Ameriprise Financial during the fourth quarter valued at about $43,000. N.E.W. Advisory Services LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth about $399,000. Finally, Highland Capital Management LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at about $1,286,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Up 1.0 %

Shares of NYSE:AMP traded up $4.90 on Tuesday, hitting $479.35. 119,448 shares of the company traded hands, compared to its average volume of 494,136. The company has a market cap of $46.07 billion, a PE ratio of 14.50, a PEG ratio of 1.15 and a beta of 1.23. The stock has a 50 day simple moving average of $499.79 and a 200-day simple moving average of $523.49. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

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Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping 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%. As a group, research 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 disclosed 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. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.24%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Analysts Set New Price Targets

AMP has been the topic of several recent analyst reports. UBS Group cut shares of 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 report on Monday, January 6th. Keefe, Bruyette & Woods cut their target price 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Finally, Morgan Stanley upped their price objective 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $517.44.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 14,023 shares in the company, 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 ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

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.