Robeco Institutional Asset Management B.V. Sells 5,369 Shares of Ameriprise Financial, Inc. $AMP
by Jessica Moore · The Cerbat GemRobeco Institutional Asset Management B.V. cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 352,115 shares of the financial services provider’s stock after selling 5,369 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ameriprise Financial were worth $172,656,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in shares of Ameriprise Financial by 0.4% in the 3rd quarter. State Street Corp now owns 4,420,072 shares of the financial services provider’s stock worth $2,171,360,000 after purchasing an additional 18,879 shares during the period. Boston Partners lifted its position in shares of Ameriprise Financial by 1.1% in the 3rd quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after purchasing an additional 13,172 shares during the period. Federated Hermes Inc. lifted its position in shares of Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after purchasing an additional 219,080 shares during the period. Legal & General Group Plc lifted its position in shares of Ameriprise Financial by 11.5% in the 3rd quarter. Legal & General Group Plc now owns 634,413 shares of the financial services provider’s stock worth $311,655,000 after purchasing an additional 65,687 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Ameriprise Financial by 18.4% in the 3rd quarter. AQR Capital Management LLC now owns 589,570 shares of the financial services provider’s stock worth $289,626,000 after purchasing an additional 91,697 shares during the period. 83.95% of the stock is owned by institutional investors.
Ameriprise Financial Trading Down 1.4%
NYSE AMP opened at $446.48 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a market cap of $40.71 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27. The company has a 50 day moving average price of $465.46 and a 200 day moving average price of $476.68. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18.
Ameriprise Financial (NYSE:AMP – Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.54 EPS. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.
Ameriprise Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.
Analyst Ratings Changes
AMP has been the subject of several research reports. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research report on Friday. They issued a “hold” rating for the company. Piper Sandler lowered their price target on shares of Ameriprise Financial from $530.00 to $460.00 and set a “hold” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Finally, Morgan Stanley lowered their price target on shares of Ameriprise Financial from $485.00 to $452.00 and set an “underweight” rating for the company in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $544.22.
Get Our Latest Analysis on AMP
Insider Buying and Selling
In related news, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,658 shares of company stock worth $8,998,675 in the last 90 days. 0.60% of the stock is owned by corporate insiders.
Ameriprise Financial Profile
Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.
Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.
See Also
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