AGF Management Ltd. Has $205.35 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

AGF Management Ltd. cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 24.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,685 shares of the financial services provider’s stock after selling 122,917 shares during the quarter. Ameriprise Financial accounts for 1.0% of AGF Management Ltd.’s portfolio, making the stock its 21st biggest holding. AGF Management Ltd. owned approximately 0.40% of Ameriprise Financial worth $205,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. Rialto Wealth Management LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $28,000. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $28,000. Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial during the fourth quarter worth $30,000. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $36,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $480.05 on Tuesday. The firm’s 50 day moving average price is $535.84 and its two-hundred day moving average price is $518.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $46.14 billion, a PE ratio of 14.52, a PEG ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

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

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $514.89.

Ameriprise Financial Profile

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.