SVB Wealth LLC Cuts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

SVB Wealth LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 19.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,461 shares of the financial services provider’s stock after selling 2,095 shares during the period. SVB Wealth LLC’s holdings in Ameriprise Financial were worth $3,214,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMP. Fairfield Bush & CO. purchased a new stake in Ameriprise Financial during the 1st quarter valued at $53,000. Synovus Financial Corp boosted its stake in Ameriprise Financial by 2.9% during the 1st quarter. Synovus Financial Corp now owns 1,961 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 56 shares during the last quarter. Aviva PLC boosted its stake in Ameriprise Financial by 23.7% during the 1st quarter. Aviva PLC now owns 45,024 shares of the financial services provider’s stock valued at $13,523,000 after purchasing an additional 8,625 shares during the last quarter. Prudential PLC bought a new position in shares of Ameriprise Financial during the 1st quarter valued at $724,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Ameriprise Financial by 62.5% during the 1st quarter. Cetera Investment Advisers now owns 2,900 shares of the financial services provider’s stock valued at $871,000 after buying an additional 1,115 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMP. Piper Sandler increased their price target on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Raymond James began coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. Morgan Stanley increased their price target on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. UBS Group increased their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Evercore ISI increased their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $441.00.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $411.77 on Thursday. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67. The stock’s fifty day moving average is $416.13 and its 200 day moving average is $376.75. The stock has a market cap of $41.26 billion, a P/E ratio of 17.37, a P/E/G ratio of 0.68 and a beta of 1.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $6.94 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.31%. Ameriprise Financial’s dividend payout ratio is presently 22.78%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders have sold a total of 89,161 shares of company stock valued at $35,560,647 over the last ninety days. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.