Aristotle Atlantic Partners LLC Decreases Stake in Ameriprise Financial, Inc. $AMP

Aristotle Atlantic Partners LLC reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,334 shares of the financial services provider’s stock after selling 1,941 shares during the period. Ameriprise Financial makes up 1.2% of Aristotle Atlantic Partners LLC’s holdings, making the stock its 27th biggest position. Aristotle Atlantic Partners LLC owned 0.06% of Ameriprise Financial worth $26,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. SouthState Bank Corp lifted its stake in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after buying an additional 22 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth about $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the third quarter worth about $32,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter worth about $32,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of Ameriprise Financial in the fourth quarter worth about $33,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

Shares of AMP opened at $471.56 on Thursday. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The stock has a market cap of $42.39 billion, a PE ratio of 11.73, a P/E/G ratio of 1.00 and a beta of 1.16. The firm has a 50-day simple moving average of $459.10 and a two-hundred day simple moving average of $473.22. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the business earned $9.50 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts forecast that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were given a dividend of $1.70 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 16.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMP shares. BMO Capital Markets raised their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Piper Sandler raised their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Finally, Weiss Ratings cut shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $543.22.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% 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, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by company insiders.

Ameriprise Financial 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.