J. Safra Sarasin Holding AG Has $11.02 Million Holdings in Ameriprise Financial, Inc. $AMP

J. Safra Sarasin Holding AG cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 59.6% during the 4th quarter, Holdings Channel reports. The firm owned 22,483 shares of the financial services provider’s stock after selling 33,190 shares during the period. J. Safra Sarasin Holding AG’s holdings in Ameriprise Financial were worth $11,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Westend Capital Management LLC boosted its stake in shares of Ameriprise Financial by 214.7% in the fourth quarter. Westend Capital Management LLC now owns 406 shares of the financial services provider’s stock valued at $199,000 after buying an additional 277 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in Ameriprise Financial by 1.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 36,737 shares of the financial services provider’s stock worth $18,014,000 after acquiring an additional 483 shares during the period. MOR Wealth Management LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at $257,000. Spire Wealth Management raised its holdings in Ameriprise Financial by 52.3% in the 4th quarter. Spire Wealth Management now owns 1,136 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 390 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in shares of Ameriprise Financial by 82.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 1,497 shares of the financial services provider’s stock valued at $734,000 after acquiring an additional 676 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,658 shares of company stock valued at $8,998,675 in the last quarter. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $437.40 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market cap of $39.88 billion, a PE ratio of 12.03, a P/E/G ratio of 1.01 and a beta of 1.27. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18. The business’s 50-day moving average price is $477.13 and its two-hundred day moving average price is $479.77.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the business earned $9.54 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMP. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $434.00 to $530.00 in a research note on Friday, January 30th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $555.67.

About Ameriprise Financial

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.