Brooks Moore & Associates Inc. Sells 100 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Brooks Moore & Associates Inc. lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 16.7% during the fourth quarter, HoldingsChannel reports. The fund owned 500 shares of the financial services provider’s stock after selling 100 shares during the quarter. Brooks Moore & Associates Inc.’s holdings in Ameriprise Financial were worth $266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. World Investment Advisors LLC bought a new stake in Ameriprise Financial during the 3rd quarter worth approximately $659,000. Tidal Investments LLC lifted its holdings in shares of Ameriprise Financial by 1.2% during the third quarter. Tidal Investments LLC now owns 3,232 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 37 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Nordea Investment Management AB increased its holdings in Ameriprise Financial by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 36,118 shares of the financial services provider’s stock valued at $19,232,000 after purchasing an additional 712 shares during the period. Finally, Pensionfund Sabic raised its position in Ameriprise Financial by 23.3% during the 4th quarter. Pensionfund Sabic now owns 3,700 shares of the financial services provider’s stock worth $1,970,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 0.9 %

AMP opened at $480.35 on Tuesday. The company has a market cap of $46.02 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The company has a fifty day moving average price of $479.81 and a two-hundred day moving average price of $520.87. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts’ consensus estimates of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the business earned $8.39 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its Board of Directors has approved a stock buyback plan on Thursday, April 24th that permits the company to repurchase $4.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $6.40 annualized dividend and a yield of 1.33%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. Ameriprise Financial’s dividend payout ratio (DPR) is presently 21.75%.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was 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 owns 14,023 shares in the company, 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 filing with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMP. Royal Bank of Canada increased their price target on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ameriprise Financial from $520.00 to $510.00 and set a “market perform” rating for the company in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $509.67.

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.