Vestcor Inc Trims Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Vestcor Inc reduced its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 44.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,127 shares of the financial services provider's stock after selling 2,540 shares during the quarter. Vestcor Inc's holdings in Ameriprise Financial were worth $1,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $30,000. Sound Income Strategies LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $36,000. Finally, SRS Capital Advisors Inc. boosted 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 purchasing an additional 20 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMP shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. 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 note on Tuesday, March 4th. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler upped 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. Finally, Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $514.89.

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Ameriprise Financial Price Performance

Ameriprise Financial stock traded up $10.10 during trading hours on Wednesday, hitting $499.03. The stock had a trading volume of 366,328 shares, compared to its average volume of 457,327. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market capitalization of $47.97 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The stock's fifty day moving average is $530.03 and its two-hundred day moving average is $520.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data 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%. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share 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 given a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.19%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Insider Buying and Selling

In other news, 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 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 position. The transaction 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 firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by company insiders.

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.