Sumitomo Mitsui Trust Group Inc. Reduces Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Sumitomo Mitsui Trust Group trimmed its Ameriprise Financial stake by 4.7% in Q4, selling 10,914 shares and leaving 221,278 shares worth about $108.5 million (≈0.24% ownership).
• Insiders have been net sellers: CEO William F. Truscott and other insiders recently sold shares, with 16,658 shares (~$9.0 million) disposed of over the past 90 days; corporate insiders now own 0.60% of the company.
• Company performance and market view: Ameriprise beat estimates with quarterly EPS of $10.83 and revenue of $4.92 billion (up 10.2% y/y), pays a $1.60 quarterly dividend (annualized $6.40, 1.4% yield), and carries a consensus analyst rating of "Hold" with a $544.22 price target.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,278 shares of the financial services provider's stock after selling 10,914 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Ameriprise Financial worth $108,501,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMP. Holos Integrated Wealth LLC bought a new position in Ameriprise Financial during the 4th quarter valued at about $30,000. Heartwood Wealth Advisors LLC bought a new position in Ameriprise Financial during the 3rd quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial during the 3rd quarter valued at about $32,000. WFA of San Diego LLC bought a new position in Ameriprise Financial during the 2nd quarter valued at about $36,000. Finally, Salomon & Ludwin LLC grew its holdings in Ameriprise Financial by 76.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 43 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the firm's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, 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. Over the last ninety days, insiders have sold 16,658 shares of company stock worth $8,998,675. Corporate insiders own 0.60% of the company's stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $454.67 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The firm's 50 day moving average price is $463.93 and its 200-day moving average price is $476.31. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The company has a market cap of $41.46 billion, a PE ratio of 12.50, a P/E/G ratio of 1.08 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (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 firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period last year, the firm earned $9.54 earnings per share. The company's quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

Analysts Set New Price Targets

AMP has been the topic of several analyst reports. BMO Capital Markets reiterated a "market perform" rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Ameriprise Financial in a report on Monday, December 29th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a report on Wednesday, February 11th. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Finally, Piper Sandler cut their price target on shares of Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating on the stock in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $544.22.

About Ameriprise Financial

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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