First National Trust Co Invests $231,000 in Ameriprise Financial, Inc. (NYSE:AMP)

First National Trust Co purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 607 shares of the financial services provider’s stock, valued at approximately $231,000.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Ameriprise Financial in the third quarter valued at about $25,000. Carmel Capital Partners LLC acquired a new position in shares of Ameriprise Financial during the third quarter worth $30,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at $34,000. Wetzel Investment Advisors Inc. purchased a new position in Ameriprise Financial in the fourth quarter valued at about $34,000. Finally, Fortitude Family Office LLC acquired a new stake in Ameriprise Financial during the 4th quarter valued at approximately $39,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 2,493 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $401.11, for a total transaction of $999,967.23. Following the completion of the sale, the chief executive officer now owns 196,598 shares of the company’s stock, valued at $78,857,423.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $4,832,500. The disclosure for this sale can be found here. Insiders have sold a total of 74,326 shares of company stock valued at $29,775,593 in the last three months. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock traded up $4.03 on Monday, hitting $422.98. 9,874 shares of the company’s stock traded hands, compared to its average volume of 492,114. The stock has a market cap of $42.38 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.71 and a beta of 1.35. Ameriprise Financial, Inc. has a 1-year low of $286.58 and a 1-year high of $440.67. The stock has a fifty day moving average of $420.18 and a 200-day moving average of $384.58. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last announced 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. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. During the same period in the prior year, the business earned $7.25 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts forecast that Ameriprise Financial, Inc. will post 34.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a $1.48 dividend. The ex-dividend date is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.40%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is 20.15%.

Analyst Ratings Changes

Several research firms have recently commented on AMP. Keefe, Bruyette & Woods increased their target price 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. Evercore ISI boosted their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Morgan Stanley lifted their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler increased their target price on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Finally, Raymond James initiated coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.