Ameriprise Financial, Inc. (NYSE:AMP) Stock Position Lowered by Lyrical Asset Management LP

Lyrical Asset Management LP reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 806,328 shares of the financial services provider’s stock after selling 20,852 shares during the period. Ameriprise Financial accounts for approximately 6.4% of Lyrical Asset Management LP’s investment portfolio, making the stock its largest holding. Lyrical Asset Management LP’s holdings in Ameriprise Financial were worth $429,313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in shares of 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 purchasing an additional 327 shares in the last quarter. Czech National Bank lifted its stake in Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after buying an additional 1,033 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Ameriprise Financial during the 4th quarter valued at $43,000. Benjamin Edwards Inc. increased its position in Ameriprise Financial by 1,261.6% during the third quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider’s stock worth $550,000 after buying an additional 1,085 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter worth $399,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial 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 value 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 $5,231,200. This represents a 9.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $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 have sold 11,636 shares of company stock worth $6,263,989 over the last 90 days. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 7.5 %

Shares of NYSE AMP opened at $421.61 on Friday. The stock has a fifty day moving average price of $515.46 and a 200 day moving average price of $524.00. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a market cap of $40.52 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last posted its earnings results 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%. Research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.40%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Analyst Ratings Changes

Several research firms have issued reports on AMP. Piper Sandler raised their price target 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. Keefe, Bruyette & Woods raised their price target on 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 reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Morgan Stanley upped their price target 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial presently 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.