Sanctuary Advisors LLC Lowers Stock Holdings in Ameriprise Financial, Inc. $AMP

Sanctuary Advisors LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 14.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,212 shares of the financial services provider’s stock after selling 1,893 shares during the period. Sanctuary Advisors LLC’s holdings in Ameriprise Financial were worth $4,983,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Checchi Capital Advisers LLC increased its stake in Ameriprise Financial by 11.8% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,087 shares of the financial services provider’s stock valued at $483,000 after buying an additional 115 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Ameriprise Financial by 16.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 2,440 shares of the financial services provider’s stock worth $1,084,000 after acquiring an additional 340 shares during the period. ABC Arbitrage SA purchased a new stake in shares of Ameriprise Financial in the first quarter valued at about $204,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Ameriprise Financial by 4.8% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,985 shares of the financial services provider’s stock worth $882,000 after acquiring an additional 91 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Ameriprise Financial by 1.4% during the first quarter. Principal Financial Group Inc. now owns 222,465 shares of the financial services provider’s stock worth $98,863,000 after acquiring an additional 3,094 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 1.0%

AMP stock opened at $527.91 on Friday. The company has a market cap of $47.46 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.94 and a beta of 1.16. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The company’s 50-day moving average price is $470.45 and its 200 day moving average price is $473.87. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the company posted $9.50 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is 16.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. BMO Capital Markets boosted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Piper Sandler increased their target price on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. One research 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $553.67.

Ameriprise Financial Profile

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.