Healthcare of Ontario Pension Plan Trust Fund Sells 90,619 Shares of Ameriprise Financial, Inc. $AMP

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 48.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,177 shares of the financial services provider’s stock after selling 90,619 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.10% of Ameriprise Financial worth $47,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC raised its position in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC raised its position in Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares during the last quarter. Sivia Capital Partners LLC raised its position in Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares during the last quarter. Schnieders Capital Management LLC. bought a new position in Ameriprise Financial during the 2nd quarter valued at approximately $313,000. Finally, Gabelli Funds LLC raised its position in Ameriprise Financial by 224.8% during the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock valued at $2,253,000 after purchasing an additional 2,922 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $458.54 on Monday. 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 company has a market capitalization of $41.22 billion, a P/E ratio of 11.40, a PEG ratio of 0.97 and a beta of 1.16. The stock’s 50 day moving average is $457.02 and its 200 day moving average is $472.92. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results 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. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.50 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Insider Activity at Ameriprise Financial

In related news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director owned 6,300 shares in the company, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. BMO Capital Markets upped their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Piper Sandler upped their price target on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley upped their price target on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. 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 given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.