Ameriprise Financial, Inc. $AMP Shares Sold by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% in the fourth quarter, HoldingsChannel reports. The firm owned 53,334 shares of the financial services provider’s stock after selling 1,941 shares during the quarter. Ameriprise Financial makes up approximately 1.2% of Aristotle Atlantic Partners LLC’s holdings, making the stock its 27th biggest holding. Aristotle Atlantic Partners LLC’s holdings in Ameriprise Financial were worth $26,152,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in AMP. SouthState Bank Corp grew its holdings in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares in the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial in the third quarter valued at approximately $32,000. Ares Financial Consulting LLC acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $32,000. Finally, Prosperity Bancshares Inc acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. 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. BMO Capital Markets lifted their price target 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. Morgan Stanley lifted their price target 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. Weiss Ratings downgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $543.22.

Ameriprise Financial Stock Up 0.0%

Shares of Ameriprise Financial stock opened at $471.56 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The company has a 50 day moving average of $459.10 and a 200 day moving average of $473.22. 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 company has a market capitalization of $42.39 billion, a P/E ratio of 11.73, a P/E/G ratio of 1.00 and a beta of 1.16.

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

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is presently 16.91%.

Insider Activity at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Company 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.