TCW Group Inc. Sells 4,666 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

TCW Group Inc. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,842 shares of the financial services provider’s stock after selling 4,666 shares during the quarter. TCW Group Inc. owned approximately 0.13% of Ameriprise Financial worth $69,664,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Czech National Bank grew its stake in Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after purchasing an additional 1,033 shares in the last quarter. Bridgewater Associates LP grew its stake in Ameriprise Financial by 97.8% in the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Empowered Funds LLC grew its stake in Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after purchasing an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC lifted its position in shares of Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after buying an additional 1,867 shares during the last quarter. Finally, Aljian Capital Management LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $458,000. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMP shares. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. 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 report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $510.44.

Insider Activity

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 transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $530.18 on Friday. The stock has a market capitalization of $51.43 billion, a PE ratio of 16.04, a P/E/G ratio of 1.17 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The business has a fifty day moving average price of $540.50 and a two-hundred day moving average price of $510.44. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced 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%. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. Ameriprise Financial’s payout ratio is 17.91%.

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.