Pictet Asset Management Holding SA Buys 7,510 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Pictet Asset Management Holding SA boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,461 shares of the financial services provider's stock after purchasing an additional 7,510 shares during the quarter. Pictet Asset Management Holding SA owned about 0.07% of Ameriprise Financial worth $34,853,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew 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 valued at $891,000 after acquiring an additional 327 shares during the period. Czech National Bank grew its position in Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock valued at $11,200,000 after purchasing an additional 1,033 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Ameriprise Financial in the 4th quarter valued at $43,000. Benjamin Edwards Inc. increased its stake in Ameriprise Financial by 1,261.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider's stock valued at $550,000 after purchasing an additional 1,085 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $399,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 over the last ninety days. 0.73% of the stock is currently owned by insiders.

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Ameriprise Financial Stock Performance

Shares of NYSE AMP traded down $34.20 during mid-day trading on Friday, reaching $421.61. 828,088 shares of the company's stock were exchanged, compared to its average volume of 487,269. The firm has a market capitalization of $40.52 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The firm has a 50-day moving average price of $515.46 and a two-hundred day moving average price of $523.50. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

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

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is 17.91%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMP shares. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. Royal Bank of Canada reiterated an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $514.89.

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.