Fmr LLC Sells 46,528 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Fmr LLC cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 986,017 shares of the financial services provider’s stock after selling 46,528 shares during the quarter. Fmr LLC owned approximately 1.02% of Ameriprise Financial worth $524,985,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $689,272,000. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after buying an additional 516,437 shares during the period. Proficio Capital Partners LLC boosted its holdings in Ameriprise Financial by 79,679.4% in the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after acquiring an additional 371,306 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after acquiring an additional 338,298 shares during the period. Finally, Amundi increased its holdings in shares of Ameriprise Financial by 48.0% during the fourth quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after acquiring an additional 208,195 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $425.61 on Wednesday. The firm has a market capitalization of $40.91 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The business’s fifty day simple moving average is $506.87 and its 200 day simple moving average is $523.32. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

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

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. 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 1.39%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Activity at Ameriprise Financial

In related 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 value of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMP shares. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Raymond James upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target for the company in a research note on Monday. 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. Finally, UBS Group downgraded 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 report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $515.20.

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.