Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Principal Financial Group Inc.

21 Dec 2024, 05:18 by Jessica Moore · The Cerbat Gem

Principal Financial Group Inc. trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 3.4% in the third quarter, Holdings Channel reports. The institutional investor owned 308,646 shares of the financial services provider’s stock after selling 11,016 shares during the period. Principal Financial Group Inc.’s holdings in Ameriprise Financial were worth $145,005,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quotient Wealth Partners LLC purchased a new stake in Ameriprise Financial during the second quarter worth approximately $209,000. New Millennium Group LLC acquired a new stake in Ameriprise Financial during the second quarter worth approximately $1,416,000. Catalyst Financial Partners LLC raised its holdings in Ameriprise Financial by 5.0% during the second quarter. Catalyst Financial Partners LLC now owns 1,320 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 63 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Ameriprise Financial by 33.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 38,339 shares of the financial services provider’s stock worth $16,378,000 after buying an additional 9,681 shares during the last quarter. Finally, Railway Pension Investments Ltd boosted its holdings in shares of Ameriprise Financial by 75.8% in the 2nd quarter. Railway Pension Investments Ltd now owns 22,500 shares of the financial services provider’s stock valued at $9,612,000 after buying an additional 9,700 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 1.2 %

NYSE:AMP opened at $532.12 on Friday. Ameriprise Financial, Inc. has a 12-month low of $368.41 and a 12-month high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock’s 50 day simple moving average is $542.85 and its 200-day simple moving average is $474.71. The firm has a market cap of $51.62 billion, a P/E ratio of 20.43, a PEG ratio of 0.96 and a beta of 1.34.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.11%. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Analyst Ratings Changes

AMP has been the topic of several research analyst reports. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Morgan Stanley raised their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $487.67.

Get Our Latest Stock Report on AMP

Insiders Place Their Bets

In related news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,715 shares of company stock worth $11,983,436. 0.96% of the stock is owned by insiders.

Ameriprise Financial Company Profile

(Free Report)