Prudential Financial Inc. Sells 21,429 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Prudential Financial Inc. reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 24.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 65,724 shares of the financial services provider’s stock after selling 21,429 shares during the quarter. Prudential Financial Inc. owned approximately 0.07% of Ameriprise Financial worth $34,993,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

AMP has been the subject of several analyst reports. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Stock Performance

Shares of AMP opened at $512.01 on Wednesday. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a market cap of $49.21 billion, a PE ratio of 15.49, a P/E/G ratio of 1.15 and a beta of 1.33. The stock has a 50-day moving average of $527.56 and a 200-day moving average of $522.40. 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 (NYSE:AMP) last announced 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%. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 yield of 1.16%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 14,023 shares in the company, 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 have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.96% of the company’s stock.

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.