Fox Run Management L.L.C. Cuts Position in Ameriprise Financial, Inc. $AMP

Fox Run Management L.L.C. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 44.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,331 shares of the financial services provider’s stock after selling 1,900 shares during the period. Fox Run Management L.L.C.’s holdings in Ameriprise Financial were worth $1,143,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMP. Norges Bank purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $742,438,000. M&T Bank Corp increased its stake in shares of Ameriprise Financial by 1,440.2% during the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after buying an additional 435,885 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after buying an additional 275,659 shares during the period. Man Group plc increased its stake in shares of Ameriprise Financial by 687.4% during the third quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock worth $135,989,000 after buying an additional 241,665 shares during the period. Finally, Close Asset Management Ltd increased its stake in shares of Ameriprise Financial by 78.2% during the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock worth $227,652,000 after buying an additional 203,252 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. BMO Capital Markets upped their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Finally, Piper Sandler increased their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $543.22.

Insider Activity at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the 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 of the company’s stock, valued at $2,883,789.56. The trade was a 50.61% 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.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $448.94 on Wednesday. The firm has a market capitalization of $40.36 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.95 and a beta of 1.16. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. 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 firm’s 50 day moving average is $456.18 and its two-hundred day moving average is $472.75.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $9.50 earnings per share. Research analysts forecast that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Ameriprise Financial Profile

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.