Victory Capital Management Inc. Sells 3,473 Shares of Ameriprise Financial, Inc. $AMP

Victory Capital Management Inc. cut its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 220,751 shares of the financial services provider’s stock after selling 3,473 shares during the quarter. Victory Capital Management Inc. owned approximately 0.24% of Ameriprise Financial worth $108,444,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AMP. Focus Partners Advisor Solutions LLC grew its position in shares of Ameriprise Financial by 29.1% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 2,052 shares of the financial services provider’s stock worth $995,000 after buying an additional 462 shares during the last quarter. Elo Mutual Pension Insurance Co acquired a new stake in Ameriprise Financial in the third quarter valued at approximately $6,831,000. Fisher Asset Management LLC purchased a new position in Ameriprise Financial in the third quarter worth $225,000. Okabena Investment Services Inc. grew its holdings in Ameriprise Financial by 5.9% in the third quarter. Okabena Investment Services Inc. now owns 505 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 28 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Ameriprise Financial by 1.4% during the third quarter. American Century Companies Inc. now owns 261,205 shares of the financial services provider’s stock worth $128,317,000 after purchasing an additional 3,549 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMP shares. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday. Jefferies Financial Group boosted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Argus lowered their target price on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price target for the company from $434.00 to $530.00 in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $469.08 on Thursday. The company has a 50 day simple moving average of $497.26 and a two-hundred day simple moving average of $487.61. The stock has a market cap of $42.77 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.09 and a beta of 1.27. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter last year, the company posted $9.54 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the company’s 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 sale, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. The trade was a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,658 shares of company stock worth $8,998,675 over the last quarter. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial 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.