M&T Bank Corp Buys 435,885 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• M&T Bank Corp raised its stake in Ameriprise by 1,440.2% in Q4, buying an additional 435,885 shares to hold 466,151 shares worth about $228.57 million, making AMP the bank's 25th largest holding (~0.7% of its portfolio).
• Insiders have been net sellers recently — including CEO William Truscott — with 16,658 shares sold in the last three months (roughly $9.0 million), leaving insiders owning about 0.60% of the stock.
• Analyst sentiment is mixed: the stock's average rating is "Hold" with an average price target of $544.22, while Ameriprise recently beat Q4 EPS estimates and pays a $1.60 quarterly dividend (≈1.4% yield).

M&T Bank Corp raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1,440.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 466,151 shares of the financial services provider's stock after acquiring an additional 435,885 shares during the quarter. Ameriprise Financial makes up 0.7% of M&T Bank Corp's portfolio, making the stock its 25th largest holding. M&T Bank Corp owned about 0.50% of Ameriprise Financial worth $228,572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. Holos Integrated Wealth LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the third quarter valued at $32,000. WFA of San Diego LLC bought a new position in shares of Ameriprise Financial during the second quarter valued at $36,000. Salomon & Ludwin LLC lifted its holdings in shares of Ameriprise Financial by 76.8% during the third quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 43 shares during the period. Finally, Corundum Trust Company INC bought a new position in shares of Ameriprise Financial during the third quarter valued at $49,000. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on Ameriprise Financial from $485.00 to $452.00 and set an "underweight" rating for the company in a report on Friday, April 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ameriprise Financial in a report on Monday, December 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Jefferies Financial Group lifted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a "hold" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $544.22.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 4,658 shares of the business's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their position. 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 dated 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 of the company's stock, 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. In the last three months, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $461.40 on Wednesday. The stock has a market capitalization of $42.07 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.12 and a beta of 1.27. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $455.26 and a two-hundred day moving average price of $474.93.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to analysts' expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $9.54 EPS. Equities analysts predict that Ameriprise Financial, Inc. will post 41.31 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

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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