Conning Inc. Sells 10,052 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Conning Inc. decreased its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,763 shares of the financial services provider's stock after selling 10,052 shares during the quarter. Conning Inc. owned about 0.09% of Ameriprise Financial worth $32,884,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMP. Louisiana State Employees Retirement System acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $2,317,000. Byrne Asset Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth about $68,000. Valeo Financial Advisors LLC lifted its stake in Ameriprise Financial by 21.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,527 shares of the financial services provider's stock worth $580,000 after acquiring an additional 272 shares in the last quarter. Sapient Capital LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth about $1,326,000. Finally, Round Rock Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth about $767,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the firm's stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares of the company's stock, valued at approximately $4,731,807.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the firm's stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares of the company's stock, valued at approximately $4,731,807.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 13,346 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,161 shares of company stock valued at $35,560,647. Corporate insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

AMP has been the subject of several research analyst reports. Piper Sandler increased their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the stock an "underweight" rating in a research note on Friday, April 5th. The Goldman Sachs Group increased their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a "buy" rating in a research note on Wednesday, March 27th. Evercore ISI increased their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the stock an "in-line" rating in a research note on Thursday. Morgan Stanley increased their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada raised their price target on Ameriprise Financial from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and an average target price of $441.00.

Ameriprise Financial Stock Performance

Shares of AMP stock traded down $8.78 during trading on Friday, reaching $413.70. The company had a trading volume of 630,554 shares, compared to its average volume of 482,458. The firm's 50 day simple moving average is $414.84 and its two-hundred day simple moving average is $375.37. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67. The company has a market capitalization of $41.45 billion, a PE ratio of 17.45, a PEG ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating analysts' consensus estimates of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the business earned $6.94 EPS. The firm's revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial's payout ratio is 22.78%.

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.