Russell Investments Group Ltd. Has $35.60 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Russell Investments Group Ltd. reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,650 shares of the financial services provider’s stock after selling 351 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Ameriprise Financial worth $35,595,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC increased its stake in Ameriprise Financial by 4.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,255 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 59 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Ameriprise Financial by 2.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,339 shares of the financial services provider’s stock worth $10,332,000 after purchasing an additional 760 shares in the last quarter. Busey Trust CO increased its stake in Ameriprise Financial by 11.9% during the 3rd quarter. Busey Trust CO now owns 1,066 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 113 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Ameriprise Financial by 6.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,099 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 67 shares in the last quarter. Finally, Mission Wealth Management LP increased its stake in Ameriprise Financial by 3.2% during the 3rd quarter. Mission Wealth Management LP now owns 1,390 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 43 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the sale, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction on Tuesday, March 26th. The stock was 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 approximately $559,159.44. The disclosure for this sale can be found here. Insiders sold 74,326 shares of company stock valued at $29,775,593 in the last quarter. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Trading Down 1.1 %

NYSE AMP opened at $411.79 on Wednesday. The company has a market cap of $41.26 billion, a PE ratio of 14.02, a PEG ratio of 0.70 and a beta of 1.36. 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 50 day moving average of $419.32 and a 200-day moving average of $382.75.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm posted $7.25 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.65 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.44%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 18.38%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMP. UBS Group raised their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Piper Sandler raised their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI raised their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $449.57.

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.