First National Trust Co Takes $231,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

First National Trust Co acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 607 shares of the financial services provider’s stock, valued at approximately $231,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Ameriprise Financial by 2.4% in the 3rd quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock valued at $294,979,000 after purchasing an additional 20,970 shares in the last quarter. Invesco Ltd. boosted its position in Ameriprise Financial by 13.4% during the 3rd quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock valued at $221,816,000 after acquiring an additional 79,611 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Ameriprise Financial by 12.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock valued at $204,417,000 after acquiring an additional 69,078 shares during the period. Barclays PLC raised its position in shares of Ameriprise Financial by 63.9% in the 3rd quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after acquiring an additional 136,621 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Ameriprise Financial by 6.0% during the 4th quarter. Federated Hermes Inc. now owns 304,953 shares of the financial services provider’s stock worth $115,830,000 after purchasing an additional 17,307 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMP. Piper Sandler lifted 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. UBS Group boosted their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Raymond James started coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $449.57.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the transaction, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO William F. Truscott sold 8,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the sale, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at $3,056,378. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,326 shares of company stock valued at $29,775,593. 0.96% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded up $4.03 during midday trading on Monday, reaching $422.98. The company had a trading volume of 9,874 shares, compared to its average volume of 492,114. The stock has a market cap of $42.38 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.71 and a beta of 1.35. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 1 year low of $286.58 and a 1 year high of $440.67. The business’s 50-day simple moving average is $420.18 and its 200 day simple moving average is $384.58.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $7.25 earnings per share. On average, analysts forecast that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 20.15%.

About Ameriprise Financial

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.