Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 13.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,832 shares of the financial services provider’s stock after selling 604 shares during the period. First Horizon Advisors Inc.’s holdings in Ameriprise Financial were worth $1,456,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at $25,000. Carmel Capital Partners LLC purchased a new position in shares of Ameriprise Financial in the 3rd quarter worth $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at $34,000. Wetzel Investment Advisors Inc. purchased a new stake in Ameriprise Financial during the fourth quarter valued at about $34,000. Finally, Fortitude Family Office LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at about $39,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now directly owns 6,994 shares of the company’s stock, valued at $3,056,378. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,326 shares of company stock valued at $29,775,593. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $418.95 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial, Inc. has a 12 month low of $279.85 and a 12 month high of $440.67. The company’s fifty day moving average price is $419.94 and its two-hundred day moving average price is $383.20. The firm has a market capitalization of $41.97 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.71 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the business earned $7.25 EPS. Ameriprise Financial’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 18.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group lifted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. Raymond James initiated coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $449.57.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.