National Bank of Canada FI Reduces Position in Ameriprise Financial, Inc. (NYSE:AMP)

National Bank of Canada FI trimmed its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 43.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,817 shares of the financial services provider’s stock after selling 46,051 shares during the quarter. National Bank of Canada FI owned approximately 0.06% of Ameriprise Financial worth $31,848,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. Geller Advisors LLC grew its stake in Ameriprise Financial by 2.2% in the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 19 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its stake in Ameriprise Financial by 3.4% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 19 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 20 shares during the period. HighPoint Advisor Group LLC raised its position in Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider’s stock valued at $1,419,000 after purchasing an additional 20 shares in the last quarter. Finally, Dakota Wealth Management lifted its holdings in shares of Ameriprise Financial by 2.7% in the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock worth $425,000 after buying an additional 21 shares during the period. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on AMP shares. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $514.89.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 over the last ninety days. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Trading Up 1.2 %

Shares of NYSE:AMP opened at $494.53 on Thursday. The business’s 50-day moving average is $520.45 and its 200 day moving average is $524.14. 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 1 year low of $385.74 and a 1 year high of $582.05. The firm has a market capitalization of $47.53 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.20%. Ameriprise Financial’s payout ratio is currently 17.91%.

Ameriprise Financial Company 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.