Ameriprise Financial, Inc. $AMP Shares Sold by Todd Asset Management LLC

Key Points

• Todd Asset Management reduced its Ameriprise Financial stake by 19.2% in the fourth quarter, selling 18,968 shares and leaving it with 79,968 shares valued at about $39.2 million.
• Ameriprise reported better-than-expected quarterly earnings of $11.26 per share, topping estimates, while revenue rose 9.7% year over year to $4.77 billion.
• The company raised its quarterly dividend to $1.70 per share from $1.60, bringing the annualized payout to $6.80 and the dividend yield to about 1.5%.

Todd Asset Management LLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 19.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,968 shares of the financial services provider's stock after selling 18,968 shares during the quarter. Todd Asset Management LLC owned approximately 0.09% of Ameriprise Financial worth $39,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC grew its holdings in Ameriprise Financial by 11.8% in the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider's stock valued at $2,915,000 after buying an additional 634 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider's stock worth $312,000 after purchasing an additional 72 shares during the period. Schnieders Capital Management LLC. purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth $313,000. Finally, Gabelli Funds LLC grew its holdings in shares of Ameriprise Financial by 224.8% during the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider's stock worth $2,253,000 after purchasing an additional 2,922 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $453.23 on Monday. 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, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The firm has a market capitalization of $40.75 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.07 and a beta of 1.20. The stock's 50-day simple moving average is $454.35 and its 200-day simple moving average is $473.42.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping 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 analyst estimates of $4.82 billion. During the same quarter in the previous year, the company posted $9.50 earnings per share. The firm's revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced 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. The ex-dividend date was Monday, May 4th. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial's dividend payout ratio (DPR) is presently 16.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a "strong-buy" rating in a research note on Wednesday, February 11th. Piper Sandler increased their target price on Ameriprise Financial from $460.00 to $471.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, BMO Capital Markets increased their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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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