Ameriprise Financial, Inc. $AMP Shares Acquired by Greatmark Investment Partners Inc.

Key Points

• Greatmark Investment Partners raised its stake in Ameriprise by 10.2% in Q4 to 42,496 shares (about $20.84M), making AMP ~2.5% of Greatmark's holdings and its 16th largest position.
• Insiders have been net sellers, disposing of 16,658 shares (~$9.0M) in the past 90 days — including CEO William F. Truscott's sale of 5,000 shares — leaving insiders with just 0.60% ownership.
• Ameriprise beat quarterly estimates (EPS $10.83 vs $10.33; revenue $4.92B vs $4.75B), shows strong profitability (ROE ~63%), pays a $1.60 quarterly dividend (1.4% yield), and holds an average analyst rating of "Hold" with a $544.22 target.

Greatmark Investment Partners Inc. grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 42,496 shares of the financial services provider's stock after acquiring an additional 3,923 shares during the quarter. Ameriprise Financial comprises approximately 2.5% of Greatmark Investment Partners Inc.'s holdings, making the stock its 16th largest position. Greatmark Investment Partners Inc.'s holdings in Ameriprise Financial were worth $20,837,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AMP. Qube Research & Technologies Ltd boosted its position in Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider's stock worth $231,805,000 after acquiring an additional 275,659 shares during the period. Man Group plc boosted its position in Ameriprise Financial by 687.4% during the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider's stock worth $135,989,000 after acquiring an additional 241,665 shares during the period. Federated Hermes Inc. boosted its position in Ameriprise Financial by 29.3% during the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider's stock worth $474,628,000 after acquiring an additional 219,080 shares during the period. Close Asset Management Ltd boosted its position in Ameriprise Financial by 78.2% during the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider's stock worth $227,652,000 after acquiring an additional 203,252 shares during the period. Finally, Woodline Partners LP boosted its position in Ameriprise Financial by 1,776.6% during the 3rd quarter. Woodline Partners LP now owns 193,285 shares of the financial services provider's stock worth $94,951,000 after acquiring an additional 182,985 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 5,000 shares of the business's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares of the company's stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 4,658 shares of the business's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This represents a 50.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 16,658 shares of company stock valued at $8,998,675. Corporate insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMP shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a "strong-buy" rating in a research report on Wednesday, February 11th. Piper Sandler reduced their price target on Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating for the company in a research report on Tuesday, April 7th. BMO Capital Markets reiterated a "market perform" rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of "Hold" and an average target price of $544.22.

Ameriprise Financial Stock Down 0.7%

AMP opened at $455.79 on Friday. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The stock's fifty day moving average is $457.78 and its 200-day moving average is $475.47. The company has a market capitalization of $41.56 billion, a PE ratio of 12.54, a P/E/G ratio of 1.12 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping analysts' consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the previous year, the business earned $9.54 EPS. The company's quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial's payout ratio is currently 17.60%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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