Principal Financial Group Inc. Reduces Holdings in Ameriprise Financial, Inc. $AMP

Principal Financial Group Inc. lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 244,864 shares of the financial services provider’s stock after selling 19,970 shares during the quarter. Principal Financial Group Inc. owned about 0.26% of Ameriprise Financial worth $120,289,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC boosted its stake in shares of Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 22 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares in the last quarter. Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth about $32,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter worth about $32,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Ameriprise Financial during the second quarter worth about $36,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMP shares. Evercore ISI reduced their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. 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 report on Thursday, November 13th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their target price for the company from $434.00 to $530.00 in a research note on Friday. Finally, Jefferies Financial Group raised 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. One 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 assigned a Sell rating to the stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Stock Performance

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

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

Ameriprise Financial Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the completion of the sale, the director directly owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

About Ameriprise Financial

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.