American International Group Inc. Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

American International Group Inc. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,780 shares of the financial services provider’s stock after selling 773 shares during the quarter. American International Group Inc.’s holdings in Ameriprise Financial were worth $11,691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EP Wealth Advisors LLC increased its holdings in shares of Ameriprise Financial by 6.1% in the 4th quarter. EP Wealth Advisors LLC now owns 1,648 shares of the financial services provider’s stock worth $626,000 after purchasing an additional 95 shares in the last quarter. Syon Capital LLC raised its position in Ameriprise Financial by 5.3% in the 4th quarter. Syon Capital LLC now owns 1,783 shares of the financial services provider’s stock worth $677,000 after buying an additional 90 shares during the last quarter. Beacon Financial Group lifted its stake in Ameriprise Financial by 38.9% during the 4th quarter. Beacon Financial Group now owns 1,381 shares of the financial services provider’s stock valued at $525,000 after acquiring an additional 387 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $1,099,000. Finally, V Square Quantitative Management LLC grew its stake in shares of Ameriprise Financial by 152.8% in the fourth quarter. V Square Quantitative Management LLC now owns 3,914 shares of the financial services provider’s stock worth $1,487,000 after acquiring an additional 2,366 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.7 %

Ameriprise Financial stock opened at $423.86 on Monday. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $442.79. The firm has a market capitalization of $42.10 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 0.72 and a beta of 1.36. The firm has a 50 day moving average of $425.26 and a 200 day moving average of $405.40. 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 (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 analysts’ consensus estimates 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 net margin of 19.42% and a return on equity of 75.97%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $7.25 earnings per share. As a group, research analysts predict that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a yield of 1.40%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Wall Street Analysts Forecast Growth

AMP has been the topic of several research reports. Morgan Stanley raised their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Evercore ISI upped their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group increased their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Argus upped their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $450.88.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The disclosure for this sale can be found here. Insiders have sold 3,376 shares of company stock worth $1,476,274 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

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.