Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Reduced by GS Investments Inc.

GS Investments Inc. cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,344 shares of the financial services provider’s stock after selling 161 shares during the period. Ameriprise Financial accounts for about 3.7% of GS Investments Inc.’s investment portfolio, making the stock its 2nd largest position. GS Investments Inc.’s holdings in Ameriprise Financial were worth $8,170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. Royal London Asset Management Ltd. lifted its stake in shares of Ameriprise Financial by 6.2% in the 4th quarter. Royal London Asset Management Ltd. now owns 43,781 shares of the financial services provider’s stock valued at $23,310,000 after purchasing an additional 2,545 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in Ameriprise Financial by 7,661.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,406 shares of the financial services provider’s stock worth $1,281,000 after buying an additional 2,375 shares during the last quarter. Brooklyn FI LLC bought a new position in Ameriprise Financial during the fourth quarter valued at about $1,195,000. Generali Asset Management SPA SGR acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth about $6,815,000. Finally, Evoke Wealth LLC boosted its stake in shares of Ameriprise Financial by 26.0% during the 4th quarter. Evoke Wealth LLC now owns 552 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 114 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMP shares. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target 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. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Morgan Stanley boosted their target price 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $499.03 on Thursday. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a market capitalization of $47.97 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.15 and a beta of 1.33. The stock has a 50 day moving average of $529.32 and a two-hundred day moving average of $520.13. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data 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 net margin of 19.70% and a return on equity of 69.35%. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a dividend of $1.48 per share. 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 dividend payout ratio is 17.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial 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 completion of the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 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 owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by corporate insiders.

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.