Capital Fund Management S.A. Cuts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Capital Fund Management S.A. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 27.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,020 shares of the financial services provider’s stock after selling 10,386 shares during the quarter. Capital Fund Management S.A.’s holdings in Ameriprise Financial were worth $14,919,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Ameriprise Financial by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock valued at $2,556,683,000 after acquiring an additional 516,437 shares during the last quarter. Geode Capital Management LLC increased its position in Ameriprise Financial by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider’s stock worth $1,407,607,000 after purchasing an additional 38,141 shares during the last quarter. Norges Bank purchased a new position in Ameriprise Financial during the fourth quarter worth about $689,272,000. Amundi boosted its holdings in Ameriprise Financial by 48.0% in the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after purchasing an additional 208,195 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Ameriprise Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock valued at $320,692,000 after buying an additional 5,048 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 3.4 %

Shares of NYSE:AMP opened at $456.70 on Friday. The firm’s 50-day moving average is $502.39 and its two-hundred day moving average is $523.02. 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 firm has a market capitalization of $43.90 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

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

Ameriprise Financial Announces Dividend

The business also recently announced 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 yield of 1.30%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Analysts Set New Price Targets

Several research firms have recently commented on AMP. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating on the stock in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a research report on Monday. Finally, Piper Sandler increased their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $510.20.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 in the last three months. 0.73% of the stock is owned by corporate insiders.

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.