Ameriprise Financial, Inc. (NYSE:AMP) Position Reduced by Prudent Man Advisors LLC

Prudent Man Advisors LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 18.4% during the fourth quarter, Holdings Channel reports. The firm owned 2,933 shares of the financial services provider’s stock after selling 661 shares during the quarter. Prudent Man Advisors LLC’s holdings in Ameriprise Financial were worth $1,562,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of AMP. Proficio Capital Partners LLC raised its holdings in shares of Ameriprise Financial by 79,679.4% during the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after purchasing an additional 371,306 shares during the period. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Ameriprise Financial by 429.0% in the 4th 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 purchasing an additional 338,298 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Ameriprise Financial by 816.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after purchasing an additional 195,271 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Ameriprise Financial by 144.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after purchasing an additional 143,648 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of AMP opened at $537.77 on Friday. The firm’s 50 day moving average is $539.85 and its 200-day moving average is $514.11. The stock has a market capitalization of $51.69 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.15 and a beta of 1.36. 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 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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 $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,636 shares of company stock worth $6,263,989. 0.96% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMP. Keefe, Bruyette & Woods lifted their price objective 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. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $510.44.

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.