Berkshire Asset Management LLC PA Has $821,000 Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Berkshire Asset Management LLC PA decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,457 shares of the financial services provider’s stock after selling 64 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Ameriprise Financial were worth $821,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Czech National Bank increased its position in shares of Ameriprise Financial by 5.2% in the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after purchasing an additional 1,033 shares during the period. Empowered Funds LLC grew its stake in Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after buying an additional 1,329 shares in the last quarter. Bridgewater Associates LP increased its holdings in Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after buying an additional 24,968 shares during the period. SpiderRock Advisors LLC raised its position in shares of Ameriprise Financial by 136.3% in the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after buying an additional 1,867 shares in the last quarter. Finally, Aljian Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $458,000. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMP. Piper Sandler upped their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Morgan Stanley lifted their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Finally, UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $499.28 on Friday. The stock’s 50-day moving average is $536.85 and its 200-day moving average is $517.04. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market cap of $47.99 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share 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%. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. Ameriprise Financial’s payout ratio is 17.91%.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 in the last three months. Insiders own 0.73% of the company’s stock.

About Ameriprise Financial

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.