Vinva Investment Management Ltd Decreases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Vinva Investment Management Ltd trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 32.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,647 shares of the financial services provider’s stock after selling 1,261 shares during the period. Vinva Investment Management Ltd’s holdings in Ameriprise Financial were worth $1,404,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AMP. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at approximately $36,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMP shares. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Piper Sandler increased their price objective 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 increased 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. Finally, Morgan Stanley increased their price objective 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $514.89.

Insider Transactions 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 shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $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 have sold a total of 11,636 shares of company stock worth $6,263,989 in the last quarter. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 1.3 %

Shares of AMP stock opened at $492.77 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock’s fifty day moving average is $528.49 and its two-hundred day moving average is $519.94. The firm has a market capitalization of $47.36 billion, a P/E ratio of 14.91, a PEG ratio of 1.15 and a beta of 1.33.

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

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

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.