Victory Capital Management Inc. Sells 46,827 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Victory Capital Management Inc. cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 18.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,365 shares of the financial services provider’s stock after selling 46,827 shares during the quarter. Victory Capital Management Inc.’s holdings in Ameriprise Financial were worth $107,213,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Geller Advisors LLC boosted its position in shares of Ameriprise Financial by 2.2% during the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 19 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its holdings in Ameriprise Financial by 3.4% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its holdings in Ameriprise Financial by 2.0% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 20 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in Ameriprise Financial by 40.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 20 shares in the last quarter. Finally, Dakota Wealth Management boosted its holdings in Ameriprise Financial by 2.7% in the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 21 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the business’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 completion of the sale, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. 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 owned by insiders.

Ameriprise Financial Stock Up 2.3 %

AMP stock opened at $509.57 on Thursday. The stock has a market capitalization of $48.98 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The business has a fifty day moving average price of $538.39 and a 200-day moving average price of $516.69.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 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 analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analysts Forecast Growth

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

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.