Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Lowered by Stifel Financial Corp

Stifel Financial Corp decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,100 shares of the financial services provider's stock after selling 4,259 shares during the quarter. Stifel Financial Corp owned about 0.08% of Ameriprise Financial worth $41,588,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMP. Cerro Pacific Wealth Advisors LLC boosted its holdings in Ameriprise Financial by 3.4% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 19 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after buying an additional 20 shares during the period. HighPoint Advisor Group LLC lifted its position in Ameriprise Financial by 0.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after buying an additional 20 shares in the last quarter. Dakota Wealth Management lifted its position in Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after buying an additional 21 shares in the last quarter. Finally, Abel Hall LLC grew its stake in Ameriprise Financial by 4.2% during the fourth 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 period. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Down 1.6 %

AMP stock traded down $7.80 during midday trading on Friday, hitting $466.28. 528,374 shares of the company's stock were exchanged, compared to its average volume of 491,183. The firm has a 50 day moving average price of $486.86 and a 200-day moving average price of $522.29. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The stock has a market capitalization of $44.68 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.17 by $0.33. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is 21.75%.

Ameriprise Financial declared that its board has approved a stock buyback plan on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

AMP has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $517.44.

Insider Transactions 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 transaction of $3,241,740.00. Following the transaction, 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 document filed with the SEC, 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 sale, the director now owns 10,000 shares of the company's stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company's stock.

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.