Forsta AP Fonden Trims Position in Ameriprise Financial, Inc. $AMP

Forsta AP Fonden decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 46,660 shares of the financial services provider’s stock after selling 2,040 shares during the period. Forsta AP Fonden owned 0.05% of Ameriprise Financial worth $22,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Holos Integrated Wealth LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial during the third quarter valued at approximately $32,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $32,000. WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial during the second quarter valued at approximately $36,000. Finally, Activest Wealth Management lifted its stake in shares of Ameriprise Financial by 777.8% during the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock valued at $39,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Piper Sandler increased their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. BMO Capital Markets increased their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Finally, Weiss Ratings downgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $543.22.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. The transaction 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 firm’s stock in a transaction on 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 sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $445.94 on Friday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The firm has a fifty day moving average of $455.29 and a 200-day moving average of $472.95. The firm has a market capitalization of $40.09 billion, a P/E ratio of 11.09, a PEG ratio of 1.05 and a beta of 1.20. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90.

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

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a $1.70 dividend. The ex-dividend date of this dividend was Monday, May 4th. 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%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

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.