Aristotle Atlantic Partners LLC Sells 3,605 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Aristotle Atlantic Partners LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,958 shares of the financial services provider's stock after selling 3,605 shares during the quarter. Ameriprise Financial makes up about 0.9% of Aristotle Atlantic Partners LLC's investment portfolio, making the stock its 25th largest holding. Aristotle Atlantic Partners LLC owned approximately 0.06% of Ameriprise Financial worth $29,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in Ameriprise Financial during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial during the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new position in Ameriprise Financial during the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Ameriprise Financial in the fourth quarter worth $30,000. Finally, Sound Income Strategies LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at $36,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

NYSE:AMP traded up $4.62 during midday trading on Wednesday, reaching $480.28. The stock had a trading volume of 429,003 shares, compared to its average volume of 490,448. The stock has a market capitalization of $46.02 billion, a P/E ratio of 14.53, a PEG ratio of 1.15 and a beta of 1.28. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm's fifty day simple moving average is $478.81 and its 200-day simple moving average is $520.55.

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

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.33%. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date is Monday, May 5th. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its Board of Directors has initiated a share buyback program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. 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. Morgan Stanley boosted their price target 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. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada boosted their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $517.13.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company's stock.

Ameriprise Financial Company 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.