Ameriprise Financial, Inc. $AMP Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,005,066 shares of the financial services provider’s stock after selling 62,455 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Ameriprise Financial were worth $492,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Optimize Financial Inc purchased a new position in Ameriprise Financial during the third quarter valued at approximately $453,000. Candriam S.C.A. lifted its holdings in Ameriprise Financial by 83.9% in the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock valued at $31,361,000 after acquiring an additional 29,116 shares during the period. Midwest Trust Co lifted its holdings in Ameriprise Financial by 2.3% in the third quarter. Midwest Trust Co now owns 111,048 shares of the financial services provider’s stock valued at $54,552,000 after acquiring an additional 2,529 shares during the period. Canada Post Corp Registered Pension Plan grew its stake in shares of Ameriprise Financial by 275.6% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 5,915 shares of the financial services provider’s stock worth $2,955,000 after purchasing an additional 4,340 shares during the period. Finally, NEOS Investment Management LLC increased its holdings in shares of Ameriprise Financial by 45.5% during the 3rd quarter. NEOS Investment Management LLC now owns 12,272 shares of the financial services provider’s stock valued at $6,029,000 after purchasing an additional 3,838 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 3.3%

Shares of NYSE:AMP opened at $455.46 on Friday. The business’s 50 day moving average price is $455.85 and its 200-day moving average price is $472.60. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The firm has a market capitalization of $40.95 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66.

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

Ameriprise Financial Increases Dividend

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

Analysts Set New Price Targets

AMP has been the subject of several analyst reports. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. Morgan Stanley increased their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $543.22.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is 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.