National Bank of Canada FI Sells 23,999 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

National Bank of Canada FI reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 35.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,409 shares of the financial services provider’s stock after selling 23,999 shares during the period. National Bank of Canada FI’s holdings in Ameriprise Financial were worth $16,442,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Stratos Wealth Partners LTD. grew its position in Ameriprise Financial by 3.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,143 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 81 shares during the last quarter. Mackenzie Financial Corp boosted its position in Ameriprise Financial by 3.3% in the third quarter. Mackenzie Financial Corp now owns 10,052 shares of the financial services provider’s stock valued at $3,187,000 after buying an additional 319 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Ameriprise Financial by 15.3% during the third quarter. Brighton Jones LLC now owns 746 shares of the financial services provider’s stock worth $246,000 after buying an additional 99 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Ameriprise Financial by 4.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 22,551 shares of the financial services provider’s stock worth $7,435,000 after acquiring an additional 873 shares in the last quarter. Finally, Advisor Partners II LLC grew its position in Ameriprise Financial by 1.8% during the 3rd quarter. Advisor Partners II LLC now owns 5,376 shares of the financial services provider’s stock worth $1,772,000 after acquiring an additional 93 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James M. Cracchiolo sold 2,493 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $401.11, for a total transaction of $999,967.23. Following the sale, the chief executive officer now directly owns 196,598 shares in the company, valued at $78,857,423.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO James M. Cracchiolo sold 2,493 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $401.11, for a total transaction of $999,967.23. Following the completion of the transaction, the chief executive officer now directly owns 196,598 shares in the company, valued at $78,857,423.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James M. Cracchiolo sold 4,298 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $397.22, for a total value of $1,707,251.56. Following the transaction, the chief executive officer now directly owns 181,012 shares of the company’s stock, valued at approximately $71,901,586.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,980 shares of company stock worth $23,053,480. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Up 0.0 %

Shares of NYSE AMP opened at $424.98 on Wednesday. The firm has a 50 day moving average price of $420.85 and a 200 day moving average price of $386.14. 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 has a market cap of $42.58 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.71 and a beta of 1.35. Ameriprise Financial, Inc. has a 52-week low of $286.58 and a 52-week high of $440.67.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company earned $7.25 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post 34.74 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Analysts Set New Price Targets

Several brokerages have recently commented on AMP. Royal Bank of Canada increased their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. The Goldman Sachs Group upped their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Evercore ISI upped their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, Argus upped their price target on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $450.88.

Ameriprise Financial Company 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.