Ameriprise Financial, Inc. $AMP Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 44.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,331 shares of the financial services provider’s stock after selling 1,900 shares during the quarter. Fox Run Management L.L.C.’s holdings in Ameriprise Financial were worth $1,143,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Candriam S.C.A. lifted its holdings in shares of Ameriprise Financial by 83.9% during the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock worth $31,361,000 after purchasing an additional 29,116 shares during the period. Midwest Trust Co lifted its holdings in shares of Ameriprise Financial by 2.3% during the third quarter. Midwest Trust Co now owns 111,048 shares of the financial services provider’s stock worth $54,552,000 after purchasing an additional 2,529 shares during the period. NEOS Investment Management LLC lifted its holdings in shares of Ameriprise Financial by 45.5% during the third quarter. NEOS Investment Management LLC now owns 12,272 shares of the financial services provider’s stock worth $6,029,000 after purchasing an additional 3,838 shares during the period. Pensionfund Sabic acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $1,471,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ameriprise Financial by 5.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after purchasing an additional 10,782 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMP has been the subject of several recent research reports. Morgan Stanley increased their price target on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Weiss Ratings downgraded Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Piper Sandler increased their price target on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $543.22.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $448.94 on Wednesday. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The business has a fifty day moving average of $456.18 and a two-hundred day moving average of $472.75. The company has a market cap of $40.36 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 0.95 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the company earned $9.50 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is 16.91%.

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.