Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 31.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,960 shares of the financial services provider's stock after acquiring an additional 953 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Ameriprise Financial were worth $2,108,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC raised its holdings in shares of Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider's stock valued at $840,000 after acquiring an additional 178 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Ameriprise Financial by 11.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider's stock valued at $887,000 after purchasing an additional 188 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in Ameriprise Financial by 2.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider's stock valued at $470,000 after purchasing an additional 24 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Ameriprise Financial by 1.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 2,857 shares of the financial services provider's stock worth $1,342,000 after purchasing an additional 49 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Ameriprise Financial by 15.6% during the third quarter. Larson Financial Group LLC now owns 1,329 shares of the financial services provider's stock worth $625,000 after buying an additional 179 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMP shares. UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Finally, Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $514.89.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Trading Down 3.4 %

AMP stock traded down $17.20 during midday trading on Friday, hitting $481.64. 460,907 shares of the company's stock were exchanged, compared to its average volume of 484,365. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. 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 stock has a market capitalization of $46.29 billion, a PE ratio of 14.57, a P/E/G ratio of 1.15 and a beta of 1.33. The business has a 50-day simple moving average of $524.55 and a two-hundred day simple moving average of $523.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data 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 return on equity of 69.35% and a net margin of 19.70%. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is 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.