Goldman Sachs Group Inc. Sells 62,455 Shares of Ameriprise Financial, Inc. $AMP

Goldman Sachs Group Inc. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,005,066 shares of the financial services provider’s stock after selling 62,455 shares during the period. Goldman Sachs Group Inc. owned 1.08% of Ameriprise Financial worth $492,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AMP. Holos Integrated Wealth LLC purchased a new stake in shares of Ameriprise Financial during the 4th quarter worth $30,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial during the third quarter valued at about $32,000. Ares Financial Consulting LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $32,000. WFA of San Diego LLC bought a new position in Ameriprise Financial in the second quarter worth about $36,000. Finally, Activest Wealth Management raised its holdings in Ameriprise Financial by 777.8% in the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

AMP opened at $455.46 on Friday. The company has a market cap of $40.95 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The firm’s 50-day moving average price is $455.85 and its 200-day moving average price is $472.60. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.82 billion. During the same period last year, the business earned $9.50 EPS. Ameriprise Financial’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate 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. Stockholders of record on Monday, May 4th were paid a dividend of $1.70 per share. The ex-dividend date 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 payout ratio is presently 16.91%.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the transaction, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This trade represents a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMP shares. Piper Sandler raised their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. BMO Capital Markets lifted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Weiss Ratings downgraded Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One investment 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 company’s stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $543.22.

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.