Boston Partners Sells 54,300 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Boston Partners trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 1,364,184 shares of the financial services provider’s stock after selling 54,300 shares during the quarter. Ameriprise Financial makes up about 0.9% of Boston Partners’ holdings, making the stock its 20th largest holding. Boston Partners’ holdings in Ameriprise Financial were worth $726,429,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Generali Asset Management SPA SGR purchased a new stake in Ameriprise Financial during the 4th quarter valued at approximately $6,815,000. Evoke Wealth LLC grew its holdings in Ameriprise Financial by 26.0% during the 4th quarter. Evoke Wealth LLC now owns 552 shares of the financial services provider’s stock valued at $294,000 after buying an additional 114 shares in the last quarter. Horizon Investments LLC grew its holdings in Ameriprise Financial by 1.4% during the 4th quarter. Horizon Investments LLC now owns 1,602 shares of the financial services provider’s stock valued at $851,000 after buying an additional 22 shares in the last quarter. Carlson Capital Management purchased a new stake in Ameriprise Financial during the 4th quarter valued at approximately $282,000. Finally, Flagship Wealth Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $98,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMP has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. 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. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial Stock Up 1.4 %

Shares of AMP opened at $492.52 on Tuesday. The firm has a market capitalization of $47.34 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a fifty day moving average price of $530.81 and a 200-day moving average price of $519.99.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating 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%. Equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.20%. Ameriprise Financial’s payout ratio is currently 17.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $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. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last three months. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Company 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.