Shell Asset Management Co. Has $668,000 Stake in Ameriprise Financial, Inc. $AMP

Shell Asset Management Co. trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 68.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,360 shares of the financial services provider’s stock after selling 2,915 shares during the quarter. Shell Asset Management Co.’s holdings in Ameriprise Financial were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMP. Linden Thomas Advisory Services LLC boosted its stake in shares of Ameriprise Financial by 0.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after buying an additional 20 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Ameriprise Financial by 2.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 21 shares in the last quarter. CreativeOne Wealth LLC boosted its position in Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 21 shares during the last quarter. Rexford Capital Inc. grew its stake in Ameriprise Financial by 20.6% in the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 21 shares in the last quarter. Finally, Mutual Advisors LLC grew its stake in Ameriprise Financial by 4.5% in the second quarter. Mutual Advisors LLC now owns 511 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 22 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $450.94, for a total value of $676,410.00. Following the sale, the director owned 7,500 shares of the company’s stock, valued at $3,382,050. This trade represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,158 shares of company stock valued at $9,675,085. 0.57% of the stock is owned by company insiders.

Ameriprise Financial Trading Up 1.3%

Shares of AMP stock opened at $473.38 on Tuesday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $552.43. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $502.32 and its two-hundred day moving average is $490.47. The company has a market cap of $43.98 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the previous year, the company earned $9.54 earnings per share. Ameriprise Financial’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AMP shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Argus cut their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Finally, Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their price target for the company from $434.00 to $530.00 in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $555.67.

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.