Boston Partners Trims Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Boston Partners trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,604,991 shares of the financial services provider's stock after selling 127,089 shares during the quarter. Ameriprise Financial makes up 0.8% of Boston Partners' holdings, making the stock its 21st biggest holding. Boston Partners owned approximately 1.59% of Ameriprise Financial worth $609,655,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMP. OFI Invest Asset Management bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $34,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $34,000. Fortitude Family Office LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $39,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $51,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Evercore ISI increased their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an "in-line" rating in a research report on Thursday, April 11th. Argus raised their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a "buy" rating in a report on Monday, May 6th. Morgan Stanley lifted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods lifted 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. Finally, Piper Sandler lifted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an "underweight" rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and an average price target of $450.88.

Ameriprise Financial Stock Up 0.8 %

Shares of AMP traded up $3.52 during mid-day trading on Friday, reaching $433.55. The company had a trading volume of 329,956 shares, compared to its average volume of 530,624. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day moving average price of $422.07 and a 200 day moving average price of $388.09. Ameriprise Financial, Inc. has a 52 week low of $286.58 and a 52 week high of $440.67. The company has a market capitalization of $43.06 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts' consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter in the prior year, the business earned $7.25 earnings per share. Ameriprise Financial's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.74 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 given a $1.48 dividend. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial's dividend payout ratio is presently 20.15%.

Insider Transactions at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 224 shares of the business's 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 transaction, the senior vice president now directly owns 1,288 shares of the company's stock, valued at approximately $559,159.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO William F. Truscott sold 8,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the transaction, the chief executive officer now owns 13,134 shares of the company's stock, valued at approximately $5,411,864.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders sold a total of 56,980 shares of company stock valued at $23,053,480 over the last three months. Corporate insiders own 0.73% of the company's stock.

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.