Welch & Forbes LLC Lowers Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Welch & Forbes LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,999 shares of the financial services provider’s stock after selling 2,935 shares during the quarter. Ameriprise Financial makes up approximately 1.2% of Welch & Forbes LLC’s portfolio, making the stock its 24th biggest holding. Welch & Forbes LLC’s holdings in Ameriprise Financial were worth $95,837,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Proficio Capital Partners LLC lifted its holdings in shares of Ameriprise Financial by 79,679.4% in the fourth quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after buying an additional 371,306 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after buying an additional 358,699 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after buying an additional 338,298 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Ameriprise Financial in the fourth quarter valued at approximately $108,620,000. Finally, Assenagon Asset Management S.A. raised its stake in Ameriprise Financial by 816.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after purchasing an additional 195,271 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley raised their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group downgraded 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. Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. One 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 company’s stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $514.89.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $2,499,128.52. Following the completion of the sale, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 1.3 %

AMP stock opened at $502.26 on Friday. The company has a market capitalization of $48.28 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company’s 50 day moving average price is $537.59 and its two-hundred day moving average price is $516.59. 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 issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is 17.91%.

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.