Rhumbline Advisers Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Rhumbline Advisers cut its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 210,884 shares of the financial services provider's stock after selling 6,803 shares during the period. Rhumbline Advisers owned approximately 0.22% of Ameriprise Financial worth $112,281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $30,000. Oakworth Capital Inc. bought a new position in shares of Ameriprise Financial in the third quarter worth about $31,000. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at about $36,000. Golden State Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $38,000. Finally, Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial in the 3rd quarter worth approximately $45,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $1.78 during mid-day trading on Wednesday, reaching $548.84. The stock had a trading volume of 446,913 shares, compared to its average volume of 557,306. The business's 50 day moving average price is $541.06 and its 200 day moving average price is $508.17. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a market cap of $53.24 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01.

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 the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Research analysts expect that Ameriprise Financial, Inc. will post 38.55 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, February 10th. Ameriprise Financial's dividend payout ratio is 17.91%.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction 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 transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

Analyst Ratings Changes

AMP has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Piper Sandler upped their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target of $510.44.

About Ameriprise Financial

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.