Ameriprise Financial, Inc. (NYSE:AMP) Stake Cut by Voya Investment Management LLC

Voya Investment Management LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,757 shares of the financial services provider's stock after selling 10,910 shares during the quarter. Voya Investment Management LLC owned approximately 0.11% of Ameriprise Financial worth $56,841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TCTC Holdings LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Buying and Selling 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 transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares of the company's stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. The trade was a 39.05 % 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 over the last three months. 0.57% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMP. Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday. Raymond James raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research note on Monday, April 7th. 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 note on Friday, January 31st. UBS Group cut 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 report on Monday, January 6th. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $509.67.

Ameriprise Financial Trading Up 0.5 %

Ameriprise Financial stock traded up $2.22 during midday trading on Thursday, reaching $473.24. The stock had a trading volume of 105,116 shares, compared to its average volume of 489,858. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05. The stock has a market capitalization of $45.34 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock's 50-day simple moving average is $482.67 and its 200 day simple moving average is $521.56.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the company posted $8.39 earnings per share. The firm's revenue was up 3.6% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be given a $1.60 dividend. The ex-dividend date is Monday, May 5th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.35%. Ameriprise Financial's dividend payout ratio (DPR) is 21.75%.

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.