Impact Investors Inc Sells 1,355 Shares of Ameriprise Financial, Inc. $AMP

Impact Investors Inc trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 57.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,011 shares of the financial services provider’s stock after selling 1,355 shares during the quarter. Impact Investors Inc’s holdings in Ameriprise Financial were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. SouthState Bank Corp grew its holdings in shares of Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares in the last quarter. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial in the fourth quarter valued at approximately $30,000. Ares Financial Consulting LLC bought a new stake in Ameriprise Financial during the fourth quarter valued at approximately $32,000. Prosperity Bancshares Inc bought a new stake in Ameriprise Financial during the fourth quarter valued at approximately $33,000. Finally, Evolution Wealth Management Inc. purchased a new position in Ameriprise Financial in the 1st quarter worth approximately $34,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $489.54 on Thursday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The stock has a market capitalization of $44.01 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. The company has a fifty day moving average of $463.80 and a 200-day moving average of $472.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $9.50 EPS. Equities research analysts expect that Ameriprise Financial, Inc. will post 43.01 EPS for the current 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 issued a $1.70 dividend. 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 1.4%. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

Insider Activity

In related news, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial 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 transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMP shares. Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating for the company. Piper Sandler upped their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Morgan Stanley increased their target price on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Finally, BMO Capital Markets raised their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One equities 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 issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $543.22.

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.