Ameriprise Financial, Inc. $AMP Stake Lowered by Brown Advisory Inc.

Brown Advisory Inc. reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,076 shares of the financial services provider’s stock after selling 4,570 shares during the period. Brown Advisory Inc.’s holdings in Ameriprise Financial were worth $65,253,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AMP. Norges Bank bought a new stake in Ameriprise Financial in the fourth quarter worth $742,438,000. M&T Bank Corp boosted its holdings in Ameriprise Financial by 1,440.2% in the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after purchasing an additional 435,885 shares in the last quarter. First Trust Advisors LP boosted its holdings in Ameriprise Financial by 85.5% in the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock worth $406,216,000 after purchasing an additional 381,754 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after acquiring an additional 275,659 shares during the last quarter. Finally, Man Group plc lifted its position in Ameriprise Financial by 687.4% during the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock worth $135,989,000 after acquiring an additional 241,665 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity at Ameriprise Financial

In related news, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction that occurred 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 transaction, the director owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. 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 report on Friday, April 24th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Finally, 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 report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $458.54 on Monday. 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 stock has a market capitalization of $41.22 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 0.97 and a beta of 1.16. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The firm’s 50-day moving average price is $457.02 and its two-hundred day moving average price is $472.92.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share 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 firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the firm earned $9.50 earnings per share. The company’s quarterly 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 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors 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 yield of 1.5%. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Ameriprise Financial 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.