Ameriprise Financial, Inc. $AMP Shares Sold by Centiva Capital LP

Centiva Capital LP lowered its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 39.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,292 shares of the financial services provider’s stock after selling 2,779 shares during the quarter. Centiva Capital LP’s holdings in Ameriprise Financial were worth $2,108,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial during the 2nd quarter worth about $32,000. Heartwood Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 3rd quarter valued at about $32,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial in the third quarter valued at about $32,000. WFA of San Diego LLC purchased a new position in Ameriprise Financial during the second quarter worth about $36,000. Finally, Salomon & Ludwin LLC boosted its stake in Ameriprise Financial by 76.8% during the third quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction 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 transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the company’s 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 sale, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,658 shares of company stock worth $8,998,675 in the last ninety days. 0.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMP shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $434.00 to $530.00 in a report on Friday, January 30th. Morgan Stanley boosted their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Finally, Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Stock Performance

NYSE AMP opened at $442.03 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $40.30 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.03 and a beta of 1.27. The stock has a 50-day moving average of $491.57 and a two-hundred day moving average of $484.96. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the company earned $9.54 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid 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 dividend payout ratio is presently 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.