Fmr LLC Sells 46,528 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Fmr LLC cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 986,017 shares of the financial services provider’s stock after selling 46,528 shares during the period. Fmr LLC’s holdings in Ameriprise Financial were worth $524,985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC purchased a new position in Ameriprise Financial during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter worth $30,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth $36,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $425.61 on Wednesday. The stock has a market capitalization of $40.91 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a fifty day moving average of $506.87 and a 200-day moving average of $523.32. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. 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 (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (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%. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Analysts Set New Price Targets

Several equities analysts recently commented on AMP shares. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler lifted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target for the company in a research note on Monday. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company 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, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $515.20.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, 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. Over the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by insiders.

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.