Farther Finance Advisors LLC Lowers Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Farther Finance Advisors LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 871 shares of the financial services provider’s stock after selling 106 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ameriprise Financial were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of 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 valued at $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after purchasing an additional 31,158 shares during the last quarter. Amundi grew its stake in shares of Ameriprise Financial by 48.0% in the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock valued at $343,546,000 after purchasing an additional 208,195 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ameriprise Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock valued at $320,692,000 after purchasing an additional 5,048 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after buying an additional 338,298 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AMP. Morgan Stanley raised their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Piper Sandler raised their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $485.94 on Monday. The stock has a fifty day moving average price of $531.56 and a 200 day moving average price of $519.64. The stock has a market cap of $46.71 billion, a PE ratio of 14.70, a P/E/G ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping 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 forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.22%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 completion of the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on 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 sale, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 over the last three months. 0.73% of the stock is currently owned by insiders.

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.