Ameriprise Financial, Inc. (NYSE:AMP) Position Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 221,911 shares of the financial services provider's stock after acquiring an additional 2,455 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Ameriprise Financial worth $118,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial in the third quarter valued at about $31,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $36,000. Peterson Financial Group Inc. purchased a new stake in shares of Ameriprise Financial in the third quarter valued at about $45,000. Albion Financial Group UT purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $46,000. Finally, Friedenthal Financial purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMP shares. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Piper Sandler raised their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a research note on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $510.44.

Ameriprise Financial Stock Down 0.4 %

AMP traded down $2.00 during trading on Wednesday, hitting $526.80. The company had a trading volume of 665,119 shares, compared to its average volume of 527,029. The company has a market cap of $51.11 billion, a PE ratio of 15.93, a P/E/G ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The business has a 50-day moving average of $542.68 and a 200-day moving average of $504.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts' consensus estimates 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 forecast that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. Ameriprise Financial's dividend payout ratio is currently 17.91%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.