Ameriprise Financial, Inc. $AMP Shares Sold by Todd Asset Management LLC

Todd Asset Management LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 19.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 79,968 shares of the financial services provider’s stock after selling 18,968 shares during the period. Todd Asset Management LLC’s holdings in Ameriprise Financial were worth $39,212,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. AE Wealth Management LLC grew its position in shares of Ameriprise Financial by 104.2% in the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after acquiring an additional 2,022 shares in the last quarter. National Pension Service lifted its holdings in shares of Ameriprise Financial by 4.6% in the 3rd quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock worth $75,151,000 after purchasing an additional 6,724 shares during the last quarter. Optimize Financial Inc bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth approximately $453,000. Arjuna Capital lifted its holdings in shares of Ameriprise Financial by 14.6% in the 3rd quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after purchasing an additional 1,610 shares during the last quarter. Finally, Candriam S.C.A. lifted its holdings in shares of Ameriprise Financial by 83.9% in the 3rd 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 last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMP. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Morgan Stanley boosted their price target on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Jefferies Financial Group boosted their target price on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Stock Performance

AMP stock opened at $453.23 on Monday. The business’s fifty day moving average is $454.35 and its 200-day moving average is $473.42. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a market cap of $40.75 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.07 and a beta of 1.20. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share 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 for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the business posted $9.50 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

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

Insider Transactions at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred 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 sale, the executive vice president directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction 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. The trade was a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

About Ameriprise Financial

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.