Aristotle Atlantic Partners LLC Decreases Stock Position in Ameriprise Financial, Inc. $AMP

Key Points

• Aristotle Atlantic Partners LLC trimmed its stake in Ameriprise by 4.1%, selling 2,334 shares to leave 55,275 shares valued at about $27.15 million.
• Insider selling accelerated: CFO Walter Stanley Berman sold 7,000 shares at $544.22 and CEO William F. Truscott sold 5,000 shares at $532.08, with insiders offloading 16,658 shares (~$9.0M) in the past three months.
• Ameriprise beat quarterly estimates, reporting EPS of $10.83 vs. $10.33 expected and revenue of $4.92B vs. $4.75B, declared a $1.60 quarterly dividend ($6.40 annual, 1.4% yield), and carries a consensus price target of $555.67 (average rating: Hold).

Aristotle Atlantic Partners LLC lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,275 shares of the financial services provider's stock after selling 2,334 shares during the period. Aristotle Atlantic Partners LLC owned 0.06% of Ameriprise Financial worth $27,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Winnow Wealth LLC purchased a new stake in shares of Ameriprise Financial in the second quarter worth about $32,000. Heartwood Wealth Advisors LLC bought a new position in Ameriprise Financial during the third quarter valued at approximately $32,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial during the 3rd quarter valued at approximately $32,000. WFA of San Diego LLC purchased a new position in Ameriprise Financial during the 2nd quarter valued at approximately $36,000. Finally, Salomon & Ludwin LLC increased its stake in Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider's stock worth $49,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent research reports. Jefferies Financial Group upped their price objective 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 shares of Ameriprise Financial and gave the company a "strong-buy" rating in a report on Wednesday, February 11th. Weiss Ratings restated a "buy (b-)" rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an "underweight" rating in a research note on Monday, December 22nd. Finally, Piper Sandler upgraded shares of Ameriprise Financial from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $434.00 to $530.00 in a research report on Friday, January 30th. One investment 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $555.67.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,658 shares of company stock worth $8,998,675 over the last three months. 0.73% of the stock is owned by insiders.

Ameriprise Financial Trading Up 0.4%

Shares of AMP stock opened at $442.03 on Friday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $550.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The stock's 50 day simple moving average is $491.57 and its two-hundred day simple moving average is $484.96. The company has a market cap of $40.30 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.03 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company earned $9.54 EPS. Research analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.4%. Ameriprise Financial's dividend payout ratio (DPR) 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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