Ameriprise Financial, Inc. $AMP Shares Sold by TrinityBridge Ltd

TrinityBridge Ltd cut its position in shares of Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 40.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 127,169 shares of the financial services provider’s stock after selling 85,091 shares during the period. Ameriprise Financial accounts for 1.8% of TrinityBridge Ltd’s investment portfolio, making the stock its 18th biggest position. TrinityBridge Ltd’s holdings in Ameriprise Financial were worth $62,584,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Avail Investment Partners LLC increased its stake in Ameriprise Financial by 2.6% during the third quarter. Avail Investment Partners LLC now owns 800 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 20 shares during the last quarter. Novem Group lifted its position in shares of Ameriprise Financial by 0.9% in the 3rd quarter. Novem Group now owns 2,303 shares of the financial services provider’s stock worth $1,134,000 after buying an additional 21 shares during the last quarter. North Dakota State Investment Board lifted its position in shares of Ameriprise Financial by 0.9% in the 2nd quarter. North Dakota State Investment Board now owns 2,716 shares of the financial services provider’s stock worth $1,246,000 after buying an additional 24 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Ameriprise Financial by 2.8% in the 2nd quarter. HBK Sorce Advisory LLC now owns 892 shares of the financial services provider’s stock worth $409,000 after buying an additional 24 shares during the last quarter. Finally, Fulton Bank N.A. boosted its holdings in shares of Ameriprise Financial by 0.4% in the 2nd quarter. Fulton Bank N.A. now owns 6,688 shares of the financial services provider’s stock valued at $3,068,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, EVP Deirdre Mcgraw sold 2,400 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $558.28, for a total value of $1,339,872.00. Following the completion of the transaction, the executive vice president owned 3,373 shares in the company, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Dawn M. Brockman sold 472 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total transaction of $263,814.96. Following the completion of the sale, the senior vice president owned 713 shares in the company, valued at $398,517.09. The trade was a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMP shares. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $518.00 to $561.00 in a research report on Thursday, July 23rd. Argus increased their price objective on shares of Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Royal Bank Of Canada raised their target price on shares of Ameriprise Financial from $560.00 to $595.00 in a report on Friday, July 24th. Weiss Ratings upgraded Ameriprise Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, September 3rd. Finally, Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $557.00.

View Our Latest Analysis on Ameriprise Financial

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $504.98 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.68 and a quick ratio of 0.71. The firm has a market capitalization of $43.84 billion, a PE ratio of 11.36, a P/E/G ratio of 1.08 and a beta of 1.13. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The business’s fifty day moving average price is $517.40 and its two-hundred day moving average price is $493.01.

Ameriprise Financial (NYSE:AMP – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.77 by ($0.51). The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.10 billion. Ameriprise Financial had a net margin of 20.99% and a return on equity of 69.94%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $9.92 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 46.08 EPS for the current year.

Ameriprise Financial declared that its Board of Directors has initiated a share repurchase program on Tuesday, September 29th that allows the company to repurchase $5.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Share repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 9th will be given a $1.70 dividend. The ex-dividend date is Monday, November 9th. This represents a $6.80 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 15.30%.

Ameriprise Financial Profile

(Free Report)

Ameriprise Financial, Inc (NYSE:AMP) is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.

See Also

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP – Free Report).

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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