Vanguard Group Inc. Decreases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Vanguard Group Inc. decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,364,363 shares of the financial services provider's stock after selling 154,022 shares during the period. Vanguard Group Inc. owned 12.75% of Ameriprise Financial worth $6,583,158,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. TCTC Holdings LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial during the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $36,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Performance

NYSE AMP traded down $7.60 during trading hours on Thursday, reaching $497.51. The stock had a trading volume of 101,452 shares, compared to its average volume of 457,117. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The stock has a fifty day moving average of $526.91 and a 200 day moving average of $522.28. 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 stock has a market cap of $47.82 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

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

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio is currently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business's 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 in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the 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 sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

AMP has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Morgan Stanley upped their target price 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. Piper Sandler raised 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. Royal Bank of Canada restated an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $514.89.

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.