ING Groep NV Has $2.34 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

ING Groep NV cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,385 shares of the financial services provider’s stock after selling 564 shares during the quarter. ING Groep NV’s holdings in Ameriprise Financial were worth $2,335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Howard Capital Management Group LLC boosted its stake in Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 178 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in Ameriprise Financial in the third quarter valued at approximately $206,000. Private Advisor Group LLC boosted its stake in Ameriprise Financial by 10.5% in the third quarter. Private Advisor Group LLC now owns 6,417 shares of the financial services provider’s stock valued at $3,015,000 after acquiring an additional 612 shares during the last quarter. Ballentine Partners LLC boosted its stake in Ameriprise Financial by 9.6% in the third quarter. Ballentine Partners LLC now owns 2,206 shares of the financial services provider’s stock valued at $1,036,000 after acquiring an additional 193 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Ameriprise Financial by 15.5% in the third quarter. Allworth Financial LP now owns 4,580 shares of the financial services provider’s stock valued at $2,152,000 after acquiring an additional 614 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMP shares. Piper Sandler raised their price objective 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. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $510.44.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 Trading Down 2.0 %

Shares of NYSE:AMP opened at $530.18 on Friday. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month 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 company’s fifty day simple moving average is $540.50 and its 200 day simple moving average is $509.65. The firm has a market cap of $51.43 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.17 and a beta of 1.36.

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%. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s payout ratio is currently 17.91%.

Ameriprise Financial 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.