Principal Financial Group Inc. Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

Principal Financial Group Inc. cut its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 292,386 shares of the financial services provider's stock after selling 16,260 shares during the period. Principal Financial Group Inc. owned 0.30% of Ameriprise Financial worth $155,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMP. JPMorgan Chase & Co. lifted its holdings in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after buying an additional 358,699 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock valued at $222,103,000 after purchasing an additional 338,298 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Ameriprise Financial by 816.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider's stock valued at $116,698,000 after purchasing an additional 195,271 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider's stock valued at $114,345,000 after purchasing an additional 143,648 shares in the last quarter. Finally, Maj Invest Holding A S increased its stake in shares of Ameriprise Financial by 67.5% during the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider's stock valued at $187,466,000 after purchasing an additional 141,927 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Piper Sandler raised their target price 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised 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. Finally, UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $510.44.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on 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 sale, the insider now owns 7,237 shares of the company's stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 14,023 shares of the company's stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock valued at $6,263,989. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Down 2.0 %

Shares of AMP traded down $10.83 on Friday, hitting $530.18. 690,237 shares of the stock traded hands, compared to its average volume of 555,326. The company has a market capitalization of $51.44 billion, a PE ratio of 16.04, a P/E/G ratio of 1.19 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The business has a 50 day simple moving average of $540.89 and a 200 day simple moving average of $508.68. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. 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.