Ameriprise Financial, Inc. (NYSE:AMP) Stake Cut by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 51.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,779 shares of the financial services provider’s stock after selling 64,417 shares during the period. Robeco Institutional Asset Management B.V. owned 0.06% of Ameriprise Financial worth $227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $34,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $34,000. Fortitude Family Office LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $39,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth about $51,000. Finally, JFS Wealth Advisors LLC raised its stake in shares of Ameriprise Financial by 52.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 140 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 48 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

AMP opened at $440.77 on Friday. The firm has a market capitalization of $43.78 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The stock’s 50 day moving average price is $426.41 and its two-hundred day moving average price is $395.64. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 12-month low of $292.65 and a 12-month high of $442.09.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $7.25 EPS. On average, equities analysts forecast that Ameriprise Financial, Inc. will post 34.93 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a $1.48 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.34%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is 20.15%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of recent research reports. Piper Sandler raised their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Morgan Stanley increased their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Argus increased their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James started coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $450.88.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The disclosure for this sale can be found here. Insiders have sold 20,816 shares of company stock valued at $8,626,989 in the last 90 days. 0.73% of the stock is currently owned by 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.