Lowe Brockenbrough & Co. Inc. Has $19.11 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Lowe Brockenbrough & Co. Inc. lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,894 shares of the financial services provider’s stock after selling 818 shares during the period. Ameriprise Financial accounts for 1.2% of Lowe Brockenbrough & Co. Inc.’s holdings, making the stock its 18th biggest holding. Lowe Brockenbrough & Co. Inc.’s holdings in Ameriprise Financial were worth $19,111,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp lifted its holdings in Ameriprise Financial by 24.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock worth $891,000 after buying an additional 327 shares during the period. Czech National Bank raised its position in shares of Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after acquiring an additional 1,033 shares during the last quarter. Bridgewater Associates LP raised its position in shares of Ameriprise Financial by 97.8% during the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after acquiring an additional 24,968 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $43,000. Finally, Benjamin Edwards Inc. boosted its holdings in Ameriprise Financial by 1,261.6% in the third quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider’s stock valued at $550,000 after acquiring an additional 1,085 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 over the last three months. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. 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, Ameriprise Financial has an average rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Stock Down 1.3 %

AMP stock opened at $492.77 on Friday. The stock’s 50 day simple moving average is $528.49 and its 200 day simple moving average is $519.94. The company has a market cap of $47.36 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) 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 return on equity of 69.35% and a net margin of 19.70%. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

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.