Ameriprise Financial, Inc. $AMP Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.4% in the first quarter, HoldingsChannel reports. 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 institutional investors have also recently modified their holdings of the stock. SouthState Bank Corp lifted its stake in Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in Ameriprise Financial during the fourth quarter worth $30,000. Ares Financial Consulting LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter worth $32,000. Prosperity Bancshares Inc acquired a new position in shares of Ameriprise Financial in the fourth quarter worth $33,000. Finally, Evolution Wealth Management Inc. purchased a new stake in shares of Ameriprise Financial in the first quarter valued at $34,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Price Performance

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

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

Ameriprise Financial Increases Dividend

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

Analysts Set New Price Targets

AMP has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. BMO Capital Markets raised their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Finally, Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $553.67.

Ameriprise Financial Company 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.