Xponance Inc. Has $13.88 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Xponance Inc. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,059 shares of the financial services provider's stock after selling 3,202 shares during the period. Xponance Inc.'s holdings in Ameriprise Financial were worth $13,875,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMP. Howard Capital Management Group LLC grew its position in shares of Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider's stock valued at $840,000 after buying an additional 178 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Ameriprise Financial during the 3rd quarter worth $503,000. Empowered Funds LLC grew its position in Ameriprise Financial by 19.9% during the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider's stock worth $3,768,000 after purchasing an additional 1,329 shares during the last quarter. TrinityPoint Wealth LLC grew its position in Ameriprise Financial by 6.8% during the 3rd quarter. TrinityPoint Wealth LLC now owns 2,023 shares of the financial services provider's stock worth $950,000 after purchasing an additional 129 shares during the last quarter. Finally, Verity & Verity LLC grew its position in Ameriprise Financial by 1.8% during the 3rd quarter. Verity & Verity LLC now owns 23,496 shares of the financial services provider's stock worth $11,039,000 after purchasing an additional 413 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

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Ameriprise Financial Trading Up 0.1 %

Shares of AMP traded up $0.33 on Friday, hitting $493.41. 1,409,453 shares of the stock traded hands, compared to its average volume of 459,124. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock's 50 day moving average is $528.03 and its two-hundred day moving average is $520.79. The firm has a market capitalization of $47.43 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the 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 transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $514.89.

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.