Brown Advisory Inc. Cuts Position in Ameriprise Financial, Inc. (NYSE:AMP)

Brown Advisory Inc. decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 276,268 shares of the financial services provider's stock after selling 4,029 shares during the quarter. Brown Advisory Inc. owned about 0.28% of Ameriprise Financial worth $147,093,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AMP. TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in Ameriprise Financial in the 4th quarter worth about $28,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. purchased a new position in Ameriprise Financial during the 4th quarter valued at $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $36,000. Institutional investors own 83.95% of the company's stock.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 in the last three months. 0.73% of the stock is owned by insiders.

Ameriprise Financial Stock Up 1.0 %

Shares of NYSE:AMP traded up $4.62 during trading on Wednesday, reaching $480.28. The stock had a trading volume of 429,003 shares, compared to its average volume of 490,817. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The company 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. The firm's 50-day simple moving average is $478.81 and its 200 day simple moving average is $520.55. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the company earned $8.39 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its board has initiated a share repurchase plan on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Ameriprise Financial Increases Dividend

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

Analysts Set New Price Targets

Several research firms have commented on AMP. Raymond James upgraded 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. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research note on Wednesday. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Piper Sandler raised their target price 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. Finally, Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target of $517.13.

About Ameriprise Financial

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.