Aberdeen Group plc Reduces Holdings in Ameriprise Financial, Inc. $AMP

Aberdeen Group plc reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,046 shares of the financial services provider’s stock after selling 1,339 shares during the quarter. Aberdeen Group plc owned about 0.10% of Ameriprise Financial worth $45,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rexford Capital Inc. grew its holdings in shares of Ameriprise Financial by 20.6% during the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 21 shares during the last quarter. Dakota Community Bank & Trust NA boosted its position in shares of Ameriprise Financial by 2.4% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 22 shares during the period. UMB Bank n.a. grew its stake in Ameriprise Financial by 0.8% during the 3rd quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock worth $1,504,000 after buying an additional 23 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Ameriprise Financial by 5.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock worth $239,000 after buying an additional 23 shares during the last quarter. Finally, Optimist Retirement Group LLC increased its position in Ameriprise Financial by 3.7% during the third quarter. Optimist Retirement Group LLC now owns 638 shares of the financial services provider’s stock worth $313,000 after buying an additional 23 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMP has been the subject of several research analyst reports. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price target for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $555.67.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, 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 sold 16,658 shares of company stock worth $8,998,675. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $433.81 on Friday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18. The company has a 50-day moving average price of $472.10 and a 200 day moving average price of $478.36. The company has a market cap of $39.55 billion, a P/E ratio of 11.93, a PEG ratio of 1.05 and a beta of 1.27. 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 (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.54 EPS. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio is currently 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.