Sumitomo Mitsui Trust Holdings Inc. Sells 3,818 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Sumitomo Mitsui Trust Holdings Inc. cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,545 shares of the financial services provider's stock after selling 3,818 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of Ameriprise Financial worth $100,482,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Morgan Stanley boosted its position in Ameriprise Financial by 9.0% during the 4th quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider's stock worth $739,686,000 after purchasing an additional 195,537 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Ameriprise Financial by 29.7% in the second quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider's stock worth $555,952,000 after buying an additional 382,811 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Ameriprise Financial by 106,308.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider's stock valued at $494,335,000 after buying an additional 1,586,121 shares in the last quarter. Norges Bank purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $389,527,000. Finally, Invesco Ltd. raised its holdings in shares of Ameriprise Financial by 33.5% during the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider's stock valued at $324,031,000 after buying an additional 270,755 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a "market perform" rating in a report on Wednesday, April 10th. The Goldman Sachs Group upped their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a "buy" rating in a research report on Wednesday, March 27th. Finally, Evercore ISI lifted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and a consensus price target of $441.00.

Ameriprise Financial Stock Up 0.2 %

Shares of Ameriprise Financial stock traded up $0.92 during trading on Wednesday, reaching $411.77. The company had a trading volume of 518,103 shares, compared to its average volume of 486,216. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The firm's fifty day moving average is $416.13 and its 200-day moving average is $376.75. The company has a market cap of $41.26 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36.

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

Ameriprise Financial Dividend Announcement

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

Insiders Place Their Bets

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares of the company's stock, valued at $559,159.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now directly owns 6,994 shares in the company, valued at $3,056,378. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock valued at $35,560,647 over the last 90 days. 0.96% of the stock is owned by company insiders.

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.