Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,958 shares of the financial services provider’s stock after selling 3,605 shares during the period. Ameriprise Financial makes up approximately 0.9% of Aristotle Atlantic Partners LLC’s holdings, making the stock its 25th largest holding. Aristotle Atlantic Partners LLC’s holdings in Ameriprise Financial were worth $29,794,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Cerro Pacific Wealth Advisors LLC lifted its position in Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after buying an additional 19 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 20 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock worth $1,419,000 after purchasing an additional 20 shares during the period. Dakota Wealth Management increased its holdings in Ameriprise Financial by 2.7% in the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 21 shares in the last quarter. Finally, Abel Hall LLC raised its position in Ameriprise Financial by 4.2% in the fourth quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last 90 days. Insiders own 0.57% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $484.28 on Friday. The firm has a fifty day moving average of $480.71 and a two-hundred day moving average of $521.15. The firm has a market cap of $46.40 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the company earned $8.39 earnings per share. Ameriprise Financial’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its board has initiated a share repurchase plan on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Monday, May 5th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s payout ratio is currently 21.75%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMP. Royal Bank of Canada upped their target price on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday. Raymond James upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target for the company in a report on Monday, April 7th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $520.00 to $510.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $509.67.

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.