Ameriprise Financial, Inc. $AMP Shares Bought by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 79.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,566 shares of the financial services provider’s stock after purchasing an additional 1,138 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Ameriprise Financial were worth $1,261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Ameriprise Financial during the second quarter worth approximately $693,736,000. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after buying an additional 446,080 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Ameriprise Financial by 29.3% during the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after acquiring an additional 219,080 shares during the last quarter. Close Asset Management Ltd lifted its position in shares of Ameriprise Financial by 78.2% during the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock valued at $227,652,000 after acquiring an additional 203,252 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Ameriprise Financial by 29.8% during the 2nd quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock worth $262,075,000 after acquiring an additional 112,784 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This represents a 55.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,658 shares of company stock valued at $8,998,675 in the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $439.51 on Friday. The company’s fifty day moving average is $492.60 and its two-hundred day moving average is $485.65. The company has a market cap of $40.07 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $550.18. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.Ameriprise Financial’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.54 earnings per share. Equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMP shares. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Argus reduced their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $555.67.

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.