Oddo BHF Asset Management Sas Sells 1,940 Shares of Ameriprise Financial, Inc. $AMP

Oddo BHF Asset Management Sas trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 63.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,098 shares of the financial services provider’s stock after selling 1,940 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Ameriprise Financial were worth $538,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. SouthState Bank Corp raised its holdings in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $32,000. Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $32,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $36,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

NYSE:AMP opened at $470.80 on Wednesday. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $458.28 and a 200 day simple moving average of $473.10. The stock has a market capitalization of $42.32 billion, a PE ratio of 11.71, a P/E/G ratio of 0.97 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the business earned $9.50 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a $1.70 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 16.91%.

Insider Buying and Selling at Ameriprise Financial

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMP shares. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating on the stock. Weiss Ratings downgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. BMO Capital Markets lifted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler lifted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $543.22.

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.