Choreo LLC Lowers Position in Ameriprise Financial, Inc. (NYSE:AMP)

Choreo LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,886 shares of the financial services provider’s stock after selling 896 shares during the period. Choreo LLC’s holdings in Ameriprise Financial were worth $3,128,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMP. Czech National Bank boosted its position in Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after purchasing an additional 1,033 shares in the last quarter. Bridgewater Associates LP lifted 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 valued at $23,730,000 after buying an additional 24,968 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Ameriprise Financial by 19.9% in the 3rd 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 grew its position 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 worth $1,521,000 after buying an additional 1,867 shares during the last quarter. Finally, Aljian Capital Management LLC bought a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $458,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $541.99 on Friday. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $52.58 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.18 and a beta of 1.36. The business’s 50 day moving average price is $545.44 and its 200 day moving average price is $500.53.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS 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%. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.68 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insider Activity

In related news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMP. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday. Finally, Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $510.44.

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.