Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Annex Advisory Services LLC

Annex Advisory Services LLC trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 12.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 494 shares of the financial services provider’s stock after selling 68 shares during the quarter. Annex Advisory Services LLC’s holdings in Ameriprise Financial were worth $217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMP. Norges Bank purchased a new position in Ameriprise Financial in the 4th quarter valued at about $514,539,000. First Trust Advisors LP boosted its position in Ameriprise Financial by 1,001.2% during the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock worth $214,266,000 after acquiring an additional 512,884 shares during the last quarter. TD Asset Management Inc boosted its position in Ameriprise Financial by 151.5% during the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in Ameriprise Financial by 104.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock worth $145,183,000 after acquiring an additional 195,475 shares during the period. Finally, Gillson Capital LP acquired a new position in Ameriprise Financial in the 4th quarter valued at $47,511,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMP. Piper Sandler upped their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. The Goldman Sachs Group upped their price target 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. Finally, Argus lifted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $450.88.

Get Our Latest Stock Analysis on Ameriprise Financial

Ameriprise Financial Price Performance

NYSE:AMP traded down $2.85 during mid-day trading on Tuesday, reaching $437.50. 116,538 shares of the stock were exchanged, compared to its average volume of 474,236. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $446.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $43.45 billion, a PE ratio of 14.99, a PEG ratio of 0.75 and a beta of 1.36. The business has a fifty day moving average price of $427.11 and a 200 day moving average price of $409.01.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm posted $7.25 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts expect that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at $4,818,770. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.

About Ameriprise Financial

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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