Groupama Asset Managment Sells 2,973 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Groupama Asset Managment lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 61.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,877 shares of the financial services provider’s stock after selling 2,973 shares during the quarter. Groupama Asset Managment’s holdings in Ameriprise Financial were worth $996,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMP. Howard Capital Management Group LLC increased its stake in shares of Ameriprise Financial by 11.1% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 178 shares during the last quarter. Verition Fund Management LLC raised its stake in Ameriprise Financial by 22.5% in the third quarter. Verition Fund Management LLC now owns 3,760 shares of the financial services provider’s stock valued at $1,766,000 after buying an additional 690 shares during the period. Paloma Partners Management Co lifted its position in shares of Ameriprise Financial by 27.7% in the third quarter. Paloma Partners Management Co now owns 1,600 shares of the financial services provider’s stock valued at $752,000 after buying an additional 347 shares during the last quarter. Atom Investors LP boosted its stake in shares of Ameriprise Financial by 8.4% during the 3rd quarter. Atom Investors LP now owns 2,115 shares of the financial services provider’s stock worth $994,000 after acquiring an additional 163 shares during the period. Finally, Benjamin Edwards Inc. increased its holdings in shares of Ameriprise Financial by 1,261.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider’s stock worth $550,000 after acquiring an additional 1,085 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business’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 transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Trading Up 1.2 %

Shares of AMP stock opened at $494.53 on Thursday. The stock has a market cap of $47.53 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year 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 has a 50 day simple moving average of $520.45 and a 200 day simple moving average of $524.14.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

Analyst Upgrades and Downgrades

AMP has been the subject of several research reports. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $514.89.

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.