Geode Capital Management LLC Sells 25,393 Shares of Ameriprise Financial, Inc. $AMP

Geode Capital Management LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,815,974 shares of the financial services provider’s stock after selling 25,393 shares during the period. Geode Capital Management LLC’s holdings in Ameriprise Financial were worth $1,377,893,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Holos Integrated Wealth LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the 3rd quarter worth about $32,000. Ares Financial Consulting LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $32,000. WFA of San Diego LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth about $36,000. Finally, Activest Wealth Management raised its position in shares of Ameriprise Financial by 777.8% in the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 70 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AMP shares. Morgan Stanley lifted their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. BMO Capital Markets lifted their price objective 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. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Piper Sandler raised their target price on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Stock Performance

Shares of AMP opened at $439.68 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a 50-day moving average of $455.01 and a 200-day moving average of $473.14. The company has a market cap of $39.53 billion, a PE ratio of 10.93, a P/E/G ratio of 1.05 and a beta of 1.20. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued 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. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $9.50 EPS. On average, equities research analysts predict 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. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is 16.91%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

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.