Stock Yards Bank & Trust Co. Trims Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Stock Yards Bank & Trust Co. decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 27.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 486 shares of the financial services provider’s stock after selling 183 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Ameriprise Financial were worth $259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial in the 3rd quarter worth approximately $31,000. Country Trust Bank boosted its stake in Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 47 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial during the 4th quarter valued at $36,000. Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial during the 3rd quarter valued at $45,000. Finally, Albion Financial Group UT purchased a new stake in Ameriprise Financial during the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $535.83 on Wednesday. Ameriprise Financial, Inc. has a 1-year low of $385.56 and a 1-year high of $582.05. The business’s fifty day moving average price is $546.89 and its 200-day moving average price is $499.39. The stock has a market capitalization of $51.98 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.68 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Analysts Set New Price Targets

Several brokerages have commented on AMP. Piper Sandler increased their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday. Finally, UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $510.44.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by 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.