Price T Rowe Associates Inc. MD Sells 26,249 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Price T Rowe Associates Inc. MD cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 321,277 shares of the financial services provider's stock after selling 26,249 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.33% of Ameriprise Financial worth $171,058,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Howard Capital Management Group LLC raised its stake in shares of Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider's stock valued at $840,000 after buying an additional 178 shares during the period. Morse Asset Management Inc purchased a new stake in shares of Ameriprise Financial in the third quarter worth about $940,000. Passumpsic Savings Bank purchased a new position in Ameriprise Financial during the third quarter valued at approximately $211,000. Anchor Investment Management LLC increased its holdings in Ameriprise Financial by 3,275.0% during the 3rd quarter. Anchor Investment Management LLC now owns 270 shares of the financial services provider's stock worth $127,000 after acquiring an additional 262 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in Ameriprise Financial in the 3rd quarter worth approximately $659,000. 83.95% of the stock is currently owned by institutional investors.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 over the last quarter. Corporate insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research report on Tuesday. Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price for the company in a research report on Monday, April 7th. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of "Hold" and a consensus target price of $509.67.

Ameriprise Financial Trading Up 2.9 %

AMP stock traded up $13.57 during midday trading on Friday, hitting $484.10. The company had a trading volume of 118,540 shares, compared to its average volume of 489,342. The stock has a market cap of $46.38 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock's 50 day moving average price is $481.46 and its 200 day moving average price is $521.33.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Ameriprise Financial's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $8.39 earnings per share. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has authorized a share buyback plan on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Monday, May 5th. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. Ameriprise Financial's dividend payout ratio is currently 21.75%.

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.