Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 55,958 shares of the financial services provider’s stock after selling 3,605 shares during the period. Ameriprise Financial makes up 0.9% of Aristotle Atlantic Partners LLC’s investment portfolio, making the stock its 25th largest holding. Aristotle Atlantic Partners LLC owned 0.06% of Ameriprise Financial worth $29,794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMP. TCTC Holdings LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $484.28 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The company has a market capitalization of $46.40 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.15 and a beta of 1.23. The stock has a fifty day moving average of $480.71 and a two-hundred day moving average of $521.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the company posted $8.39 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be paid a dividend of $1.60 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.32%. Ameriprise Financial’s dividend payout ratio is presently 21.75%.

Ameriprise Financial declared that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMP shares. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Raymond James raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective on the stock in a report on Monday, April 7th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada upped their price target on Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods reduced their price objective on Ameriprise Financial from $520.00 to $510.00 and set a “market perform” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $509.67.

Insider Buying and Selling

In other news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.57% of the stock is owned by insiders.

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.