Aristotle Atlantic Partners LLC Trims Stake in Ameriprise Financial, Inc. $AMP

Aristotle Atlantic Partners LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,275 shares of the financial services provider’s stock after selling 2,334 shares during the period. Aristotle Atlantic Partners LLC’s holdings in Ameriprise Financial were worth $27,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Brighton Jones LLC grew its stake in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after buying an additional 50 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after acquiring an additional 634 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 72 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in Ameriprise Financial during the 2nd quarter valued at $313,000. Finally, Boston Partners boosted its holdings in Ameriprise Financial by 3.1% during the 2nd quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock valued at $629,650,000 after acquiring an additional 35,500 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.4%

AMP opened at $442.03 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 stock’s fifty day moving average is $491.57 and its two-hundred day moving average is $484.96. The company has a market capitalization of $40.30 billion, a P/E ratio of 12.16, a PEG ratio of 1.03 and a beta of 1.27. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the prior year, the business earned $9.54 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is presently 17.60%.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value 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 represents a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,658 shares of company stock valued at $8,998,675 over the last three months. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently 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.