Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 528,770 shares of the financial services provider's stock after selling 48,841 shares during the period. Truist Financial Corp owned about 0.52% of Ameriprise Financial worth $200,843,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of Ameriprise Financial by 2.4% during the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider's stock worth $294,979,000 after buying an additional 20,970 shares in the last quarter. Invesco Ltd. grew its stake in Ameriprise Financial by 13.4% during the 3rd quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider's stock valued at $221,816,000 after acquiring an additional 79,611 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Ameriprise Financial by 12.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider's stock valued at $204,417,000 after acquiring an additional 69,078 shares during the last quarter. Barclays PLC lifted its stake in Ameriprise Financial by 63.9% in the 3rd quarter. Barclays PLC now owns 350,391 shares of the financial services provider's stock worth $115,517,000 after purchasing an additional 136,621 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Ameriprise Financial by 6.0% during the 4th quarter. Federated Hermes Inc. now owns 304,953 shares of the financial services provider's stock worth $115,830,000 after purchasing an additional 17,307 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group upped their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a "buy" rating in a report on Thursday, January 25th. The Goldman Sachs Group raised 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. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an "outperform" rating in a research report on Wednesday. Raymond James assumed coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a "market perform" rating for the company. Finally, Evercore ISI increased their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an "in-line" rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and an average target price of $449.57.

Ameriprise Financial Trading Down 0.3 %

Shares of AMP stock traded down $1.10 on Friday, reaching $409.81. 454,209 shares of the stock were exchanged, compared to its average volume of 503,375. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The stock has a market cap of $41.06 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. The firm has a 50 day moving average of $418.65 and a two-hundred day moving average of $380.77.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts' consensus estimates of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $7.25 EPS. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 34.58 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.44%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.35. Ameriprise Financial's dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 5,146 shares of the firm's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the completion of the sale, the insider now directly owns 9,421 shares in the company, valued at $3,669,196.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 2,493 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $401.11, for a total transaction of $999,967.23. Following the transaction, the chief executive officer now directly owns 196,598 shares in the company, valued at approximately $78,857,423.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 5,146 shares of the business's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the sale, the insider now directly owns 9,421 shares in the company, valued at $3,669,196.87. The disclosure for this sale can be found here. Insiders have sold 79,472 shares of company stock valued at $31,779,805 in the last quarter. Corporate insiders own 0.73% of the company's stock.

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.

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