UniSuper Management Pty Ltd Has $4.07 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

UniSuper Management Pty Ltd reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 18.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,637 shares of the financial services provider’s stock after selling 1,726 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Ameriprise Financial were worth $4,066,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMP. TCTC Holdings LLC bought a new position in Ameriprise Financial during the fourth quarter worth $26,000. Whipplewood Advisors LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth about $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Morgan Stanley upped 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, March 4th. Piper Sandler raised their price target on shares of 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 reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Trading Down 3.4 %

Shares of AMP opened at $481.64 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 market cap of $46.29 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a fifty day moving average price of $524.55 and a two-hundred day moving average price of $522.43.

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

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.96% of the stock is currently owned by corporate insiders.

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.