Great Diamond Partners LLC Has $2.12 Million Stake in Ameriprise Financial, Inc. $AMP

Key Points

• Great Diamond Partners LLC cut its Ameriprise Financial stake by 38.5% in Q4, leaving it with 4,327 shares valued at about $2.12 million.
• Ameriprise reported Q1 earnings of $11.26 per share, beating estimates, while revenue of $4.77 billion came in slightly below expectations but still rose 9.7% year over year.
• The company raised its quarterly dividend to $1.70 per share from $1.60, and several analysts maintained mixed views, with the stock carrying an average Hold rating and a consensus price target of $543.22.

Great Diamond Partners LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 38.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,327 shares of the financial services provider's stock after selling 2,709 shares during the quarter. Great Diamond Partners LLC's holdings in Ameriprise Financial were worth $2,122,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of Ameriprise Financial by 0.4% in the third quarter. State Street Corp now owns 4,420,072 shares of the financial services provider's stock valued at $2,171,360,000 after purchasing an additional 18,879 shares in the last quarter. Boston Partners raised its stake in shares of Ameriprise Financial by 1.1% in the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider's stock valued at $586,083,000 after purchasing an additional 13,172 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Ameriprise Financial by 29.3% in the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider's stock valued at $474,628,000 after purchasing an additional 219,080 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Ameriprise Financial by 11.5% in the third quarter. Legal & General Group Plc now owns 634,413 shares of the financial services provider's stock valued at $311,655,000 after purchasing an additional 65,687 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Ameriprise Financial by 18.4% in the third quarter. AQR Capital Management LLC now owns 589,570 shares of the financial services provider's stock valued at $289,626,000 after purchasing an additional 91,697 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $457.39 on Thursday. The business's fifty day moving average price is $454.40 and its two-hundred day moving average price is $473.43. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The stock has a market capitalization of $41.12 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66.

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

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. This is a positive change from Ameriprise Financial's previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. Ameriprise Financial's dividend payout ratio (DPR) is currently 16.91%.

Analyst Ratings Changes

AMP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a "hold" rating for the company. Piper Sandler upped their target price on Ameriprise Financial from $460.00 to $471.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Royal Bank Of Canada restated an "outperform" rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a "strong-buy" rating in a research note on Wednesday, February 11th. Finally, Morgan Stanley upped 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $543.22.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company's stock.

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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