Ameriprise Financial, Inc. $AMP Holdings Trimmed by Boston Partners

Boston Partners lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,171,328 shares of the financial services provider’s stock after selling 21,720 shares during the period. Boston Partners’ holdings in Ameriprise Financial were worth $574,365,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. PFG Investments LLC boosted its holdings in shares of Ameriprise Financial by 1.4% during the fourth quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. boosted its position in shares of Ameriprise Financial by 3.6% in the fourth quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 21 shares during the period. EPG Wealth Management LLC boosted its position in shares of Ameriprise Financial by 0.8% in the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after acquiring an additional 21 shares during the period. Essex Financial Services Inc. boosted its position in shares of Ameriprise Financial by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock valued at $443,000 after acquiring an additional 21 shares during the period. Finally, SouthState Bank Corp boosted its position 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 acquiring an additional 22 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

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

Ameriprise Financial Stock Up 1.8%

Shares of AMP stock opened at $458.54 on Friday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The firm has a market capitalization of $41.22 billion, a P/E ratio of 11.40, a PEG ratio of 0.95 and a beta of 1.16. 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’s fifty day moving average price is $457.02 and its two-hundred day moving average price is $472.73.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the business posted $9.50 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $1.70 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Insider Buying and Selling

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction that occurred 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 owned 6,300 shares in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by company insiders.

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.