Principal Financial Group Inc. Sells 16,260 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Principal Financial Group Inc. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,386 shares of the financial services provider’s stock after selling 16,260 shares during the quarter. Principal Financial Group Inc. owned 0.30% of Ameriprise Financial worth $155,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. Exchange Traded Concepts LLC bought a new stake in Ameriprise Financial during the third quarter worth $108,000. Creative Planning raised its position in Ameriprise Financial by 1.6% during the third quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock worth $10,604,000 after acquiring an additional 348 shares in the last quarter. Howard Capital Management Group LLC raised its position in Ameriprise Financial by 11.1% during the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares in the last quarter. Blue Trust Inc. raised its position in Ameriprise Financial by 15.5% during the third quarter. Blue Trust Inc. now owns 1,831 shares of the financial services provider’s stock worth $782,000 after acquiring an additional 246 shares in the last quarter. Finally, Raymond James & Associates raised its position in Ameriprise Financial by 3.1% during the third quarter. Raymond James & Associates now owns 159,215 shares of the financial services provider’s stock worth $74,801,000 after acquiring an additional 4,859 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP opened at $546.69 on Tuesday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The firm has a market cap of $53.03 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 1.18 and a beta of 1.36. The firm’s 50-day simple moving average is $541.20 and its 200 day simple moving average is $506.25. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates 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 38.55 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 6th. The shares were 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 of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The sale 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 Ameriprise Financial stock in a transaction that occurred 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 sale, the director now directly owns 10,000 shares in the company, valued at $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. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMP shares. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $510.44.

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.