Ameriprise Financial, Inc. $AMP Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,604 shares of the financial services provider’s stock after selling 1,571 shares during the quarter. Copeland Capital Management LLC’s holdings in Ameriprise Financial were worth $14,045,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMP. SouthState Bank Corp lifted its position 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 valued at $25,000 after acquiring an additional 22 shares in the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth approximately $30,000. Ares Financial Consulting LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $32,000. Prosperity Bancshares Inc purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $33,000. Finally, Evolution Wealth Management Inc. purchased a new stake in shares of Ameriprise Financial during the first quarter worth approximately $34,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

AMP stock opened at $527.91 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50 day simple moving average of $470.45 and a 200-day simple moving average of $473.87. The firm has a market capitalization of $47.46 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.95 and a beta of 1.16. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the firm earned $9.50 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a $1.70 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 16.91%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets raised their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Piper Sandler increased their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Weiss Ratings downgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $553.67.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s 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 transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s 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 of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.