Victory Capital Management Inc. Cuts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Victory Capital Management Inc. cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 201,365 shares of the financial services provider’s stock after selling 46,827 shares during the quarter. Victory Capital Management Inc. owned approximately 0.21% of Ameriprise Financial worth $107,213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alley Investment Management Company LLC boosted its holdings in Ameriprise Financial by 0.9% during the fourth quarter. Alley Investment Management Company LLC now owns 56,388 shares of the financial services provider’s stock worth $30,023,000 after purchasing an additional 507 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Ameriprise Financial in the fourth quarter valued at about $341,000. Charles Schwab Investment Management Inc. boosted its stake in Ameriprise Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 602,317 shares of the financial services provider’s stock valued at $320,692,000 after acquiring an additional 5,048 shares during the last quarter. State of Michigan Retirement System boosted its stake in Ameriprise Financial by 1.4% in the fourth quarter. State of Michigan Retirement System now owns 28,578 shares of the financial services provider’s stock valued at $15,216,000 after acquiring an additional 400 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Ameriprise Financial in the fourth quarter valued at about $43,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

NYSE AMP opened at $509.57 on Thursday. The company’s 50 day simple moving average is $538.39 and its two-hundred day simple moving average is $516.69. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock has a market capitalization of $48.98 billion, a PE ratio of 15.41, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $514.89.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Company 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.