Citizens Financial Group Inc. RI Has $1.08 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Citizens Financial Group Inc. RI grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,024 shares of the financial services provider’s stock after purchasing an additional 159 shares during the period. Citizens Financial Group Inc. RI’s holdings in Ameriprise Financial were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AMP. Proficio Capital Partners LLC boosted its position in Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock worth $197,943,000 after buying an additional 371,306 shares during the period. JPMorgan Chase & Co. boosted its position in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after buying an additional 358,699 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after buying an additional 338,298 shares during the period. Amundi boosted its position in Ameriprise Financial by 48.0% during the 4th quarter. Amundi now owns 642,226 shares of the financial services provider’s stock worth $343,546,000 after buying an additional 208,195 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Ameriprise Financial during the 4th quarter worth approximately $108,620,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $480.61 on Thursday. The company has a fifty day moving average of $533.72 and a 200-day moving average of $518.54. The firm has a market capitalization of $46.19 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.23%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 in the last quarter. 0.73% of the stock is 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.