Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 22.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,418 shares of the financial services provider’s stock after selling 9,050 shares during the period. Handelsbanken Fonder AB’s holdings in Ameriprise Financial were worth $11,933,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. CWM LLC boosted its position in shares of Ameriprise Financial by 35.7% in the fourth quarter. CWM LLC now owns 3,301 shares of the financial services provider’s stock worth $1,254,000 after acquiring an additional 868 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Ameriprise Financial by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,601 shares of the financial services provider’s stock worth $3,647,000 after acquiring an additional 118 shares during the last quarter. Signaturefd LLC boosted its position in shares of Ameriprise Financial by 1.4% in the fourth quarter. Signaturefd LLC now owns 2,270 shares of the financial services provider’s stock worth $862,000 after acquiring an additional 32 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Ameriprise Financial by 2.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,176 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 60 shares during the last quarter. Finally, abrdn plc boosted its position in shares of Ameriprise Financial by 15.0% in the fourth quarter. abrdn plc now owns 91,016 shares of the financial services provider’s stock worth $34,571,000 after acquiring an additional 11,845 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,161 shares of company stock worth $35,560,647. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AMP shares. Evercore ISI lifted their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group lifted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. UBS Group lifted their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $441.00.

Ameriprise Financial Trading Down 3.3 %

NYSE AMP opened at $407.27 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The company’s fifty day simple moving average is $417.72 and its 200-day simple moving average is $379.75. The stock has a market cap of $40.80 billion, a P/E ratio of 17.18, a PEG ratio of 0.69 and a beta of 1.36. Ameriprise Financial, Inc. has a 52 week low of $279.85 and a 52 week high of $440.67.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.25 earnings per share. Equities research analysts predict that Ameriprise Financial, Inc. will post 34.43 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is 22.78%.

Ameriprise Financial 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.