Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,348 shares of the financial services provider’s stock after selling 225 shares during the period. Cullen Frost Bankers Inc.’s holdings in Ameriprise Financial were worth $2,315,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMP. Proficio Capital Partners LLC boosted its holdings in Ameriprise Financial by 79,679.4% in the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after buying an additional 371,306 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 worth $2,013,359,000 after buying an additional 358,699 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after purchasing an additional 338,298 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Ameriprise Financial by 816.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock worth $116,698,000 after purchasing an additional 195,271 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Ameriprise Financial by 144.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after purchasing an additional 143,648 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last quarter. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Down 0.7 %

AMP stock opened at $499.28 on Friday. The firm has a market cap of $47.99 billion, a PE ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33. 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 firm’s 50 day moving average price is $536.85 and its 200-day moving average price is $517.04. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its 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%. On average, equities research 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 given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $514.89.

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.