Victory Capital Management Inc. Lowers Stake in Ameriprise Financial, Inc. $AMP

Victory Capital Management Inc. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 220,751 shares of the financial services provider’s stock after selling 3,473 shares during the quarter. Victory Capital Management Inc.’s holdings in Ameriprise Financial were worth $108,444,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AMP. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Ameriprise Financial by 2.9% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock valued at $391,000 after buying an additional 21 shares in the last quarter. CreativeOne Wealth LLC raised its position in Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 21 shares during the period. Rexford Capital Inc. lifted its holdings in Ameriprise Financial by 20.6% during the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 21 shares in the last quarter. Dakota Community Bank & Trust NA grew its position in shares of Ameriprise Financial by 2.4% in the third quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 22 shares during the period. Finally, RWA Wealth Partners LLC increased its stake in shares of Ameriprise Financial by 0.5% during the second quarter. RWA Wealth Partners LLC now owns 4,367 shares of the financial services provider’s stock worth $2,331,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $434.00 to $530.00 in a research note on Friday, January 30th. Finally, Argus decreased their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $555.67.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Gumer Alvero sold 4,658 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,658 shares of company stock worth $8,998,675 in the last ninety days. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Up 0.7%

Shares of NYSE:AMP opened at $469.08 on Thursday. 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 business has a fifty day moving average of $497.26 and a two-hundred day moving average of $487.61. The stock has a market cap of $42.77 billion, a P/E ratio of 12.90, a PEG ratio of 1.09 and a beta of 1.27. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results 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 business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.54 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is presently 17.60%.

Ameriprise Financial Company 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.