TCW Group Inc. Reduces Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

TCW Group Inc. decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,850 shares of the financial services provider’s stock after selling 5,572 shares during the period. TCW Group Inc. owned approximately 0.17% of Ameriprise Financial worth $65,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth $34,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $34,000. Fortitude Family Office LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at $39,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Ameriprise Financial in the 4th quarter valued at $51,000. Finally, JFS Wealth Advisors LLC grew its holdings in Ameriprise Financial by 52.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 140 shares of the financial services provider’s stock valued at $53,000 after buying an additional 48 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.9 %

NYSE:AMP traded down $3.84 during trading hours on Thursday, hitting $434.15. 359,625 shares of the company’s stock traded hands, compared to its average volume of 483,969. Ameriprise Financial, Inc. has a twelve month low of $291.87 and a twelve month high of $442.09. The firm has a market cap of $43.12 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.74 and a beta of 1.35. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s fifty day moving average price is $425.59 and its two-hundred day moving average price is $394.61.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $7.25 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 34.93 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were paid a dividend of $1.48 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.36%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMP. Morgan Stanley increased their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group boosted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Argus upped their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Royal Bank of Canada boosted their price target on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. One 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $450.88.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO James M. Cracchiolo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $408.63, for a total value of $2,043,150.00. Following the completion of the transaction, the chief executive officer now owns 159,012 shares of the company’s stock, valued at approximately $64,977,073.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO James M. Cracchiolo sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $408.63, for a total value of $2,043,150.00. Following the completion of the transaction, the chief executive officer now directly owns 159,012 shares of the company’s stock, valued at approximately $64,977,073.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the transaction, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The disclosure for this sale can be found here. Insiders sold a total of 20,816 shares of company stock worth $8,626,989 in the last 90 days. 0.73% of the stock is owned by company insiders.

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.