Gulf International Bank UK Ltd Lowers Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Gulf International Bank UK Ltd lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,613 shares of the financial services provider’s stock after selling 92 shares during the period. Gulf International Bank UK Ltd’s holdings in Ameriprise Financial were worth $4,053,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMP. Mn Services Vermogensbeheer B.V. boosted its holdings in Ameriprise Financial by 2.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 39,754 shares of the financial services provider’s stock valued at $21,166,000 after purchasing an additional 900 shares during the period. Harfst & Associates Inc. raised its position in shares of Ameriprise Financial by 5.9% in the fourth quarter. Harfst & Associates Inc. now owns 4,846 shares of the financial services provider’s stock worth $2,580,000 after buying an additional 269 shares in the last quarter. Cable Hill Partners LLC bought a new stake in Ameriprise Financial during the fourth quarter valued at $205,000. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial during the fourth quarter worth about $28,000. Finally, NewEdge Wealth LLC increased its stake in Ameriprise Financial by 5.2% in the 4th quarter. NewEdge Wealth LLC now owns 3,608 shares of the financial services provider’s stock worth $1,921,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 in the last ninety days. 0.96% of the stock is owned by insiders.

Ameriprise Financial Stock Up 0.1 %

Shares of NYSE AMP opened at $525.64 on Friday. The stock has a market capitalization of $50.52 billion, a P/E ratio of 15.90, a PEG ratio of 1.15 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The firm’s 50 day simple moving average is $539.74 and its two-hundred day simple moving average is $513.19.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMP shares. Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $510.44.

About Ameriprise Financial

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.