US Bancorp DE Has $42.30 Million Stock Position in Ameriprise Financial, Inc. $AMP

US Bancorp DE reduced its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,104 shares of the financial services provider’s stock after selling 7,850 shares during the quarter. US Bancorp DE owned 0.09% of Ameriprise Financial worth $42,299,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Winnow Wealth LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter worth about $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the third quarter worth about $32,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial during the third quarter valued at about $32,000. WFA of San Diego LLC acquired a new position in Ameriprise Financial in the 2nd quarter valued at approximately $36,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Ameriprise Financial by 60.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 85 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 32 shares during the period. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMP shares. Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Argus dropped their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Price Performance

NYSE:AMP opened at $486.88 on Friday. 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 firm has a market cap of $44.39 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $550.18. The company’s 50-day moving average price is $499.40 and its two-hundred day moving average price is $488.88.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial’s quarterly revenue 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. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Monday, February 9th will be paid a $1.60 dividend. The ex-dividend date is Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Insider Activity

In related news, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,658 shares of company stock worth $8,998,675. 0.73% of the stock is owned by corporate insiders.

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.