Russell Investments Group Ltd. Sells 7,524 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Russell Investments Group Ltd. cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,031 shares of the financial services provider's stock after selling 7,524 shares during the period. Russell Investments Group Ltd. owned 0.13% of Ameriprise Financial worth $67,598,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMP. Dynamic Technology Lab Private Ltd bought a new position in Ameriprise Financial in the 4th quarter worth $623,000. Resona Asset Management Co. Ltd. bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $16,044,000. ROI Financial Advisors LLC lifted its position in shares of Ameriprise Financial by 3.9% during the 4th quarter. ROI Financial Advisors LLC now owns 1,021 shares of the financial services provider's stock valued at $543,000 after buying an additional 38 shares in the last quarter. Spahn Wealth & Retirement LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $423,000. Finally, Arete Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $247,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AMP. UBS Group downgraded shares of 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 report on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Raymond James upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price of $517.44.

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Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction 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 transaction, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of the business's stock in a transaction dated 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 owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company's stock.

Ameriprise Financial Price Performance

Shares of AMP traded up $13.01 during midday trading on Friday, hitting $469.53. 612,195 shares of the company traded hands, compared to its average volume of 496,494. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a 50 day moving average of $501.06 and a 200-day moving average of $523.06. The stock has a market cap of $45.13 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.15 and a beta of 1.23.

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

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

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.