Truist Financial Corp Sells 14,262 Shares of Ameriprise Financial, Inc. $AMP

Key Points

• Truist Financial reduced its Ameriprise stake by 10.8%, selling 14,262 shares in Q4 and holding 117,680 shares valued at about $57.7 million (roughly 0.13% of the company).
• Insider selling has picked up: CEO William F. Truscott sold 5,000 shares (~$532.08 each) and Gumer Alvero sold 4,658 shares (~$542.88 each), with insiders selling 16,658 shares (~$9.0M) over the past 90 days and owning about 0.60%.
• Dividend and results — Ameriprise raised its quarterly dividend to $1.70 (annualized $6.80, 1.5% yield) and reported Q EPS of $11.26 (beating estimates); analysts' consensus is a "Hold" with an average price target of $543.22.

Truist Financial Corp lessened its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,680 shares of the financial services provider's stock after selling 14,262 shares during the period. Truist Financial Corp owned approximately 0.13% of Ameriprise Financial worth $57,703,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. AE Wealth Management LLC grew its holdings in shares of Ameriprise Financial by 104.2% in the third quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider's stock worth $1,946,000 after purchasing an additional 2,022 shares during the last quarter. National Pension Service raised its stake in shares of Ameriprise Financial by 4.6% during the third quarter. National Pension Service now owns 152,980 shares of the financial services provider's stock valued at $75,151,000 after acquiring an additional 6,724 shares during the last quarter. Optimize Financial Inc bought a new position in shares of Ameriprise Financial during the third quarter valued at about $453,000. Arjuna Capital raised its stake in shares of Ameriprise Financial by 14.6% during the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider's stock valued at $6,196,000 after acquiring an additional 1,610 shares during the last quarter. Finally, Candriam S.C.A. raised its stake in shares of Ameriprise Financial by 83.9% during the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider's stock valued at $31,361,000 after acquiring an additional 29,116 shares during the last quarter. Institutional investors own 83.95% of the company's stock.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares of the company's stock, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,658 shares of company stock worth $8,998,675. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $468.54 on Tuesday. The stock's 50 day simple moving average is $454.79 and its two-hundred day simple moving average is $474.05. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.68 and a current ratio of 0.66. The stock has a market cap of $42.72 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.12 and a beta of 1.20. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business's revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $9.50 EPS. As a group, analysts expect that Ameriprise Financial, Inc. will post 41.87 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued 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 is currently 15.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Morgan Stanley lifted their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a "strong-buy" rating in a research report on Wednesday, February 11th. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $543.22.

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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