First Manhattan CO. LLC. Has $9.94 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

First Manhattan CO. LLC. lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,672 shares of the financial services provider’s stock after selling 1,170 shares during the quarter. First Manhattan CO. LLC.’s holdings in Ameriprise Financial were worth $9,942,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMP. Cerro Pacific Wealth Advisors LLC lifted its stake in shares of Ameriprise Financial by 3.4% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 19 shares during the period. SRS Capital Advisors Inc. raised its position in Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after buying an additional 20 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in shares of Ameriprise Financial by 0.8% during the fourth 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. Dakota Wealth Management lifted its position in shares of Ameriprise Financial by 2.7% during 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 in the last quarter. Finally, Abel Hall LLC increased its position in shares of Ameriprise Financial by 4.2% during the 4th quarter. Abel Hall LLC now owns 517 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This trade represents a 39.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AMP. Raymond James upgraded shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price for the company in a research report on Monday, April 7th. Royal Bank of Canada increased their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $510.00 to $520.00 and gave the company a “market perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $517.13.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $492.09 on Friday. The stock’s fifty day moving average is $476.70 and its two-hundred day moving average is $519.86. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $47.15 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 EPS for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the company posted $8.39 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial announced that its board has authorized a share repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be given a dividend of $1.60 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 annualized dividend and a yield of 1.30%. The ex-dividend date is Monday, May 5th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 21.75%.

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.