Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Wilbanks Smith & Thomas Asset Management LLC

Wilbanks Smith & Thomas Asset Management LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,846 shares of the financial services provider’s stock after selling 125 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Ameriprise Financial were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC raised its stake in shares of Ameriprise Financial by 63.9% during the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock valued at $115,517,000 after purchasing an additional 136,621 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Ameriprise Financial by 134.4% in the third quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider’s stock worth $68,761,000 after acquiring an additional 119,578 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Ameriprise Financial by 107.0% in the third quarter. Assenagon Asset Management S.A. now owns 209,822 shares of the financial services provider’s stock worth $69,174,000 after acquiring an additional 108,461 shares in the last quarter. Payden & Rygel Investment Group bought a new stake in Ameriprise Financial in the third quarter worth about $28,382,000. Finally, Canada Pension Plan Investment Board raised its position in Ameriprise Financial by 398.5% in the third quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider’s stock worth $33,001,000 after acquiring an additional 80,020 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 0.4 %

Shares of NYSE AMP traded up $1.73 during trading hours on Friday, hitting $416.73. The stock had a trading volume of 64,705 shares, compared to its average volume of 495,131. The company has a market capitalization of $41.75 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.70 and a beta of 1.35. The firm’s 50-day moving average price is $419.94 and its two-hundred day moving average price is $383.20. Ameriprise Financial, Inc. has a 52 week low of $279.85 and a 52 week high of $440.67. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company earned $7.25 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts anticipate that Ameriprise Financial, Inc. will post 34.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.42%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is 18.38%.

Wall Street Analyst Weigh In

AMP has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Raymond James initiated coverage on Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating on the stock. Evercore ISI lifted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group lifted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, UBS Group lifted their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $449.57.

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the sale, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders have sold 74,326 shares of company stock valued at $29,775,593 over the last 90 days. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Profile

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.