Great Lakes Retirement Inc. Decreases Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Great Lakes Retirement Inc. decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,021 shares of the financial services provider’s stock after selling 228 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Ameriprise Financial were worth $3,738,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Czech National Bank lifted its holdings in shares of Ameriprise Financial by 5.2% in the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after acquiring an additional 1,033 shares during the last quarter. Bridgewater Associates LP boosted its position in shares of Ameriprise Financial by 97.8% during the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after buying an additional 24,968 shares during the period. Empowered Funds LLC grew its stake in shares of Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after buying an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC raised its holdings in shares of Ameriprise Financial by 136.3% in the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after buying an additional 1,867 shares during the period. Finally, Aljian Capital Management LLC acquired a new position in Ameriprise Financial during the 3rd quarter worth about $458,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AMP shares. Keefe, Bruyette & Woods increased their target price 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. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $510.44.

Ameriprise Financial Stock Down 0.1 %

Shares of NYSE:AMP opened at $528.72 on Wednesday. The stock has a 50-day simple moving average of $543.42 and a 200-day simple moving average of $503.37. The stock has a market capitalization of $51.29 billion, a P/E ratio of 15.99, a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly 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 net margin of 19.70% and a return on equity of 69.35%. Equities analysts forecast that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Insider Activity at Ameriprise Financial

In related 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 value of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Profile

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.