Lowe Brockenbrough & Co. Inc. Sells 818 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Lowe Brockenbrough & Co. Inc. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,894 shares of the financial services provider’s stock after selling 818 shares during the quarter. Ameriprise Financial accounts for 1.2% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 18th largest position. Lowe Brockenbrough & Co. Inc.’s holdings in Ameriprise Financial were worth $19,111,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Northwest & Ethical Investments L.P. grew its position in Ameriprise Financial by 85.9% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 20,621 shares of the financial services provider’s stock valued at $10,979,000 after buying an additional 9,527 shares during the period. Wilkins Investment Counsel Inc. grew its position in shares of Ameriprise Financial by 6.5% during the 4th quarter. Wilkins Investment Counsel Inc. now owns 586 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 36 shares during the period. Royal London Asset Management Ltd. grew its position in shares of Ameriprise Financial by 6.2% during 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 acquiring an additional 2,545 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Ameriprise Financial by 7,661.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,406 shares of the financial services provider’s stock worth $1,281,000 after purchasing an additional 2,375 shares during the last quarter. Finally, Brooklyn FI LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $1,195,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMP. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley increased 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. Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $514.89.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The stock was 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 of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 in the last ninety days. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Price Performance

AMP stock opened at $492.77 on Friday. The firm has a 50 day moving average of $528.49 and a 200-day moving average of $519.94. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $47.36 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s 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.