Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Cut by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 25.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,792 shares of the financial services provider's stock after selling 83,502 shares during the period. Ameriprise Financial makes up about 1.8% of Sterling Capital Management LLC's holdings, making the stock its 9th largest holding. Sterling Capital Management LLC owned 0.25% of Ameriprise Financial worth $130,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock valued at $2,556,683,000 after buying an additional 516,437 shares in the last quarter. Geode Capital Management LLC grew its stake in Ameriprise Financial by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock valued at $1,407,607,000 after acquiring an additional 38,141 shares in the last quarter. Norges Bank purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $689,272,000. Amundi increased its holdings in Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider's stock worth $343,546,000 after acquiring an additional 208,195 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Ameriprise Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider's stock worth $320,692,000 after purchasing an additional 5,048 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lowered their target price on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada reissued an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and an average target price of $517.44.

Insider Activity

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the business's 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 transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction dated 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. The trade was 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 sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Trading Down 2.5 %

Shares of AMP stock traded down $11.94 on Wednesday, hitting $464.50. 189,231 shares of the company's stock traded hands, compared to its average volume of 560,089. The stock has a market capitalization of $44.65 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 1.15 and a beta of 1.23. The company's fifty day simple moving average is $498.48 and its 200 day simple moving average is $523.16. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year 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.

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

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. Ameriprise Financial's dividend payout ratio (DPR) is currently 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.