Associated Banc Corp Has $25.81 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Associated Banc Corp cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,469 shares of the financial services provider’s stock after selling 1,457 shares during the period. Associated Banc Corp’s holdings in Ameriprise Financial were worth $25,806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at $30,000. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at $36,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after buying an additional 20 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

AMP opened at $485.94 on Friday. The company has a market cap of $46.71 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The stock has a 50-day moving average of $531.56 and a 200-day moving average of $518.53. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

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

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.22%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMP. Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, UBS Group downgraded 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. One 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. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $514.89.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, 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 sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

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.