Asset Management One Co. Ltd. Sells 4,727 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Asset Management One reduced its stake in Ameriprise by 10.3%, selling 4,727 shares and leaving 41,357 shares valued at about $20.58 million at the end of the quarter.
• Ameriprise beat Q4 estimates with EPS of $10.83 (versus $10.33 expected) and revenue of $4.92B (vs. $4.75B), with revenue up 10.2% year‑over‑year, and it pays a $1.60 quarterly dividend ($6.40 annual, ~1.4% yield).
• Insiders have been net sellers recently (CFO sold 7,000 shares, CEO sold 5,000; 16,658 shares worth about $9.0M sold in the last 90 days) while analysts hold a consensus Hold rating with an average target of $544.22.

Asset Management One Co. Ltd. lessened its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,357 shares of the financial services provider's stock after selling 4,727 shares during the period. Asset Management One Co. Ltd.'s holdings in Ameriprise Financial were worth $20,582,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Merit Financial Group LLC boosted its position in Ameriprise Financial by 61.5% during the 4th quarter. Merit Financial Group LLC now owns 8,244 shares of the financial services provider's stock worth $4,043,000 after buying an additional 3,139 shares during the period. AE Wealth Management LLC increased its position in Ameriprise Financial by 7.1% in the 4th quarter. AE Wealth Management LLC now owns 4,242 shares of the financial services provider's stock valued at $2,080,000 after acquiring an additional 280 shares during the period. Whittier Trust Co. raised its stake in shares of Ameriprise Financial by 5.8% during the fourth quarter. Whittier Trust Co. now owns 911 shares of the financial services provider's stock valued at $465,000 after acquiring an additional 50 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ameriprise Financial by 5.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,587 shares of the financial services provider's stock valued at $8,624,000 after acquiring an additional 849 shares during the last quarter. Finally, Pursuit Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $404,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $455.79 on Monday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The firm has a fifty day simple moving average of $457.78 and a 200 day simple moving average of $475.39. The company has a market capitalization of $41.56 billion, a PE ratio of 12.54, a P/E/G ratio of 1.11 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating analysts' consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.92 billion for the quarter, compared to analysts' expectations of $4.75 billion. During the same quarter in the prior year, the firm posted $9.54 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial's dividend payout ratio (DPR) is currently 17.60%.

Wall Street Analyst Weigh In

AMP has been the topic of several analyst reports. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. BMO Capital Markets reaffirmed a "market perform" rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. Piper Sandler reduced their price target on Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating on the stock in a research report on Tuesday, April 7th. Morgan Stanley decreased their price target on Ameriprise Financial from $485.00 to $452.00 and set an "underweight" rating for the company in a research note on Friday, April 10th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $605.00 price objective (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 issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $544.22.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,658 shares of company stock valued at $8,998,675 over the last 90 days. Company insiders own 0.60% of the company's stock.

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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