Royal London Asset Management Ltd. Grows Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Royal London Asset Management Ltd. increased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,781 shares of the financial services provider's stock after buying an additional 2,545 shares during the period. Royal London Asset Management Ltd.'s holdings in Ameriprise Financial were worth $23,310,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AMP. Geller Advisors LLC lifted its position in Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock valued at $412,000 after acquiring an additional 19 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its position in Ameriprise Financial by 3.4% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock worth $307,000 after purchasing an additional 19 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 20 shares during the last quarter. Dakota Wealth Management lifted its holdings in Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock worth $425,000 after acquiring an additional 21 shares during the period. Finally, Abel Hall LLC boosted its holdings in shares of Ameriprise Financial by 4.2% in the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider's stock worth $275,000 after buying an additional 21 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Piper Sandler lifted their price target 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. Morgan Stanley increased their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of "Hold" and an average price target of $514.89.

Ameriprise Financial Price Performance

Shares of AMP stock traded down $5.42 during trading on Wednesday, hitting $505.15. The company had a trading volume of 348,165 shares, compared to its average volume of 550,862. The stock's 50-day moving average is $527.56 and its two-hundred day moving average is $522.40. The stock has a market capitalization of $48.55 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. 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 posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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, analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.17%. Ameriprise Financial's payout ratio is 17.91%.

Insider Activity

In other news, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were 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 of the company's stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock valued at $6,263,989. Corporate insiders own 0.96% of the company's stock.

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.