Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 127,031 shares of the financial services provider’s stock after selling 7,524 shares during the quarter. Russell Investments Group Ltd.’s holdings in Ameriprise Financial were worth $67,598,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMP. TCTC Holdings LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial in the fourth quarter valued at $30,000. Finally, Sound Income Strategies LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 7.5 %

Shares of Ameriprise Financial stock opened at $421.61 on Monday. The company’s fifty day moving average is $515.46 and its two-hundred day moving average is $524.51. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year 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. The company has a market capitalization of $40.52 billion, a P/E ratio of 12.75, a PEG ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued 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 1.40%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMP. 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 research report on Monday, February 3rd. Morgan Stanley upped their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $514.89.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were 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 $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is owned by corporate insiders.

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.