Principal Financial Group Inc. Decreases Stock Position in Ameriprise Financial, Inc. $AMP

Principal Financial Group Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,864 shares of the financial services provider’s stock after selling 19,970 shares during the period. Principal Financial Group Inc.’s holdings in Ameriprise Financial were worth $120,289,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AMP. Brighton Jones LLC grew its holdings in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after acquiring an additional 634 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 72 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Ameriprise Financial by 44.7% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,071 shares of the financial services provider’s stock worth $572,000 after acquiring an additional 331 shares during the last quarter. Finally, Ascent Group LLC lifted its stake in shares of Ameriprise Financial by 5.0% in the second quarter. Ascent Group LLC now owns 804 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 38 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Argus lowered their price objective on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Evercore ISI dropped their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday, October 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a report on Monday, December 22nd. Finally, Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $434.00 to $530.00 in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Trading Up 0.8%

Ameriprise Financial stock opened at $531.37 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $552.43. The firm’s 50-day moving average is $492.88 and its 200-day moving average is $491.68. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $49.37 billion, a P/E ratio of 14.61, a PEG ratio of 1.35 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the firm earned $9.54 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares in the company, valued at $3,382,050. The trade was a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Company 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.