Orion Portfolio Solutions LLC Trims Position in Ameriprise Financial, Inc. (NYSE:AMP)

Orion Portfolio Solutions LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.3% in the 4th quarter, Holdings Channel reports. The fund owned 8,170 shares of the financial services provider’s stock after selling 279 shares during the period. Orion Portfolio Solutions LLC’s holdings in Ameriprise Financial were worth $4,350,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Pictet Asset Management Holding SA grew its position in shares of Ameriprise Financial by 13.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 65,461 shares of the financial services provider’s stock valued at $34,853,000 after purchasing an additional 7,510 shares during the period. New Age Alpha Advisors LLC grew its holdings in Ameriprise Financial by 21,672.2% in the 4th quarter. New Age Alpha Advisors LLC now owns 7,838 shares of the financial services provider’s stock valued at $4,173,000 after buying an additional 7,802 shares during the period. Norges Bank acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at about $689,272,000. NEOS Investment Management LLC lifted its holdings in shares of Ameriprise Financial by 29.9% during the 4th quarter. NEOS Investment Management LLC now owns 5,399 shares of the financial services provider’s stock worth $2,875,000 after acquiring an additional 1,243 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after acquiring an additional 516,437 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 3.4 %

Shares of AMP opened at $481.64 on Monday. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock’s 50-day moving average is $524.55 and its two-hundred day moving average is $523.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $46.29 billion, a PE ratio of 14.57, a P/E/G ratio of 1.15 and a beta of 1.33.

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

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’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 in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 in the last quarter. Company insiders own 0.73% of the company’s stock.

About Ameriprise Financial

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.