ABN Amro Investment Solutions Has $9.03 Million Holdings in Ameriprise Financial, Inc. $AMP

ABN Amro Investment Solutions decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 25.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,379 shares of the financial services provider’s stock after selling 6,112 shares during the quarter. ABN Amro Investment Solutions’ holdings in Ameriprise Financial were worth $9,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AMP. Whipplewood Advisors LLC raised its position in shares of Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 22 shares during the period. Salomon & Ludwin LLC increased its stake in Ameriprise Financial by 115.4% in the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 30 shares in the last quarter. Winnow Wealth LLC bought a new stake in Ameriprise Financial in the second quarter valued at approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the third quarter worth $32,000. Finally, WFA of San Diego LLC bought a new position in shares of Ameriprise Financial during the second quarter worth $36,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 18,158 shares of company stock valued at $9,675,085. 0.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Morgan Stanley boosted their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Stock Up 1.3%

AMP stock opened at $473.38 on Friday. The company has a market cap of $43.98 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $552.43. The business has a 50 day moving average price of $502.37 and a two-hundred day moving average price of $490.99. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $9.54 earnings per share. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

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.