Zurcher Kantonalbank Zurich Cantonalbank Reduces Holdings in Ameriprise Financial, Inc. $AMP

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 70,518 shares of the financial services provider’s stock after selling 1,275 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ameriprise Financial were worth $34,578,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AMP. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the third quarter worth approximately $32,000. WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial in the second quarter worth $36,000. Salomon & Ludwin LLC increased its stake in shares of Ameriprise Financial by 76.8% in the third quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after buying an additional 43 shares during the period. Finally, Corundum Trust Company INC bought a new stake in Ameriprise Financial during the 3rd quarter valued at $49,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $456.71 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The stock has a market capitalization of $41.64 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.11 and a beta of 1.27. The company’s 50-day moving average is $456.13 and its 200 day moving average is $475.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $9.54 earnings per share. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 41.31 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Wall Street Analyst Weigh In

AMP has been the subject of several analyst reports. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $485.00 to $452.00 and set an “underweight” rating for the company in a research note on Friday, April 10th. Piper Sandler dropped their target price on shares of Ameriprise Financial from $530.00 to $460.00 and set a “hold” rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $544.22.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 12,149 shares in the company, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,658 shares of company stock worth $8,998,675 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Company 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.