Allspring Global Investments Holdings LLC Lowers Position in Ameriprise Financial, Inc. (NYSE:AMP)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 22.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,936 shares of the financial services provider's stock after selling 2,923 shares during the period. Allspring Global Investments Holdings LLC's holdings in Ameriprise Financial were worth $3,774,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. OFI Invest Asset Management bought a new position in Ameriprise Financial during the 3rd quarter worth approximately $25,000. Financial Freedom LLC bought a new position in Ameriprise Financial during the fourth quarter worth $27,000. Carmel Capital Partners LLC acquired a new position in Ameriprise Financial in the third quarter valued at $30,000. FinTrust Capital Advisors LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at $32,000. Finally, Brown Brothers Harriman & Co. boosted its position in Ameriprise Financial by 106.6% during the first quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Stock Up 1.1 %

AMP stock traded up $4.38 during midday trading on Friday, reaching $417.01. 1,159,135 shares of the company's stock traded hands, compared to its average volume of 429,511. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The firm's fifty day moving average price is $416.89 and its 200-day moving average price is $378.06. Ameriprise Financial, Inc. has a 52 week low of $279.85 and a 52 week high of $440.67. The company has a market cap of $41.78 billion, a price-to-earnings ratio of 17.59, a P/E/G 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 (EPS) for the quarter, beating analysts' consensus estimates of $7.67 by $0.08. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The firm had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.90 billion. During the same period last year, the company earned $6.94 earnings per share. The business's revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial's dividend payout ratio (DPR) is presently 22.78%.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a "market perform" rating in a research note on Wednesday, April 10th. Evercore ISI increased their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an "in-line" rating in a report on Thursday, April 11th. The Goldman Sachs Group lifted their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a "buy" rating in a research note on Wednesday, March 27th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an "underweight" rating in a research report on Friday, April 5th. Finally, Raymond James began coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a "market perform" rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and an average price target of $441.00.

Insider Activity

In related news, insider Gumer Alvero sold 1,652 shares of the company's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Gumer Alvero sold 1,652 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now directly owns 6,994 shares of the company's stock, valued at $3,056,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 13,346 shares of the business's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $2,485,474.29. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock worth $35,560,647 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

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.