Payden & Rygel Sells 27,100 Shares of Ameriprise Financial, Inc. $AMP

Payden & Rygel cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 89.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,100 shares of the financial services provider’s stock after selling 27,100 shares during the period. Payden & Rygel’s holdings in Ameriprise Financial were worth $1,523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Ameriprise Financial during the 2nd quarter worth approximately $693,736,000. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 7.7% during the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after buying an additional 446,080 shares during the last quarter. Federated Hermes Inc. raised its stake in Ameriprise Financial by 29.3% during the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after buying an additional 219,080 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Ameriprise Financial by 29.8% in the second quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock valued at $262,075,000 after buying an additional 112,784 shares during the period. Finally, Vanguard Group Inc. boosted its position in Ameriprise Financial by 0.9% during the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock valued at $6,635,471,000 after acquiring an additional 111,386 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the transaction, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 16,658 shares of company stock valued at $8,998,675. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Down 0.3%

Shares of NYSE:AMP opened at $471.08 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The business’s 50 day simple moving average is $500.78 and its two-hundred day simple moving average is $489.55. The firm has a market cap of $42.95 billion, a P/E ratio of 12.96, a PEG ratio of 1.10 and a beta of 1.26.

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

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 9th will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 target price (up previously from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $434.00 to $530.00 in a report on Friday, January 30th. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $555.67.

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.