iA Global Asset Management Inc. Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

iA Global Asset Management Inc. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 49.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,853 shares of the financial services provider’s stock after selling 1,826 shares during the period. iA Global Asset Management Inc.’s holdings in Ameriprise Financial were worth $987,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ameriprise Financial by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after acquiring an additional 31,158 shares in the last quarter. Amundi raised its position in shares of Ameriprise Financial by 48.0% in the fourth quarter. Amundi now owns 642,226 shares of the financial services provider’s stock worth $343,546,000 after buying an additional 208,195 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ameriprise Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock worth $320,692,000 after buying an additional 5,048 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of 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 worth $222,103,000 after buying an additional 338,298 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.1 %

Shares of NYSE:AMP opened at $493.41 on Friday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a market cap of $47.43 billion, a PE ratio of 14.92, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s 50-day moving average is $528.03 and its 200 day moving average is $520.24.

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

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.20%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s 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 sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AMP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Piper Sandler increased 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. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Morgan Stanley increased their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $514.89.

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.