New York Life Investment Management LLC Sells 121 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

New York Life Investment Management LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,859 shares of the financial services provider’s stock after selling 121 shares during the quarter. New York Life Investment Management LLC’s holdings in Ameriprise Financial were worth $6,024,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Ameriprise Financial by 2.4% in the 3rd quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after purchasing an additional 20,970 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Ameriprise Financial by 13.4% in the 3rd quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock worth $221,816,000 after buying an additional 79,611 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Ameriprise Financial by 12.5% in the third 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 in the last quarter. Barclays PLC increased its position in shares of Ameriprise Financial by 63.9% during the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock valued at $115,517,000 after acquiring an additional 136,621 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Ameriprise Financial by 6.0% during the fourth quarter. Federated Hermes Inc. now owns 304,953 shares of the financial services provider’s stock valued at $115,830,000 after acquiring an additional 17,307 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMP shares. Keefe, Bruyette & Woods upped 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. Piper Sandler raised their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. UBS Group boosted their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group raised their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Finally, Evercore ISI upped 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $449.57.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $418.95 on Friday. The firm’s 50 day moving average is $419.94 and its 200 day moving average is $383.20. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 12 month low of $279.85 and a 12 month high of $440.67. The stock has a market capitalization of $41.97 billion, a P/E ratio of 14.26, a PEG ratio of 0.70 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping 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 firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $7.25 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a dividend of $1.48 per share. The ex-dividend date is Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.41%. Ameriprise Financial’s dividend payout ratio is currently 18.38%.

Insider Transactions at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at $559,159.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at $559,159.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the completion of the sale, the chief executive officer now directly owns 13,134 shares in the company, valued at $5,411,864.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,326 shares of company stock valued at $29,775,593. 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.