CenterBook Partners LP Lowers Stake in Ameriprise Financial, Inc. (NYSE:AMP)

CenterBook Partners LP reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 51.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,226 shares of the financial services provider’s stock after selling 1,314 shares during the quarter. CenterBook Partners LP’s holdings in Ameriprise Financial were worth $466,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Venture Visionary Partners LLC boosted its stake in shares of Ameriprise Financial by 2.9% during the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock worth $5,650,000 after acquiring an additional 416 shares in the last quarter. 17 Capital Partners LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $2,078,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Ameriprise Financial by 0.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock worth $5,166,000 after purchasing an additional 73 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ameriprise Financial by 3.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock worth $42,238,000 after purchasing an additional 4,203 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of Ameriprise Financial by 280.6% during the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock worth $11,585,000 after purchasing an additional 22,487 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $426.63 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $42.38 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. The firm has a 50 day simple moving average of $426.03 and a 200-day simple moving average of $402.70. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $442.79.

Ameriprise Financial (NYSE:AMPGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $7.25 EPS. On average, analysts expect that Ameriprise Financial, Inc. will post 34.95 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a dividend of $1.48 per share. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling

In related news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,376 shares of company stock valued at $1,476,274. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Raymond James initiated coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group increased their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $450.88.

Read Our Latest Stock Analysis on AMP

About Ameriprise Financial

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.