Ameriprise Financial, Inc. $AMP Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 3.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,076 shares of the financial services provider's stock after selling 4,570 shares during the period. Brown Advisory Inc. owned 0.14% of Ameriprise Financial worth $65,253,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. NEOS Investment Management LLC boosted its stake in Ameriprise Financial by 45.5% in the third quarter. NEOS Investment Management LLC now owns 12,272 shares of the financial services provider's stock valued at $6,029,000 after acquiring an additional 3,838 shares during the period. Pensionfund Sabic acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $1,471,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ameriprise Financial by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider's stock valued at $98,388,000 after acquiring an additional 10,782 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in Ameriprise Financial by 2,600.0% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,483 shares of the financial services provider's stock valued at $1,711,000 after acquiring an additional 3,354 shares during the period. Finally, Aberdeen Group plc boosted its stake in Ameriprise Financial by 32.4% in the third quarter. Aberdeen Group plc now owns 94,385 shares of the financial services provider's stock valued at $47,154,000 after acquiring an additional 23,085 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

NYSE AMP opened at $458.54 on Monday. The stock has a market capitalization of $41.22 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.97 and a beta of 1.16. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The business's fifty day moving average is $457.02 and its two-hundred day moving average is $472.92. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the prior year, the company earned $9.50 earnings per share. The firm's revenue was up 9.7% on a year-over-year basis. On average, research analysts forecast that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, May 4th. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.60. Ameriprise Financial's dividend payout ratio is 16.91%.

Insider Buying and Selling

In related news, EVP Gerard P. Smyth sold 6,255 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares of the company's stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director owned 6,300 shares in the company, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley lifted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the company an "underweight" rating in a research note on Thursday, April 30th. Weiss Ratings downgraded Ameriprise Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 27th. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a report on Friday, April 10th. They set a "hold" rating on the stock. Finally, Piper Sandler lifted their price target on Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $543.22.

Ameriprise Financial Company 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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