Impact Investors Inc Sells 1,355 Shares of Ameriprise Financial, Inc. $AMP

Impact Investors Inc lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 57.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,011 shares of the financial services provider’s stock after selling 1,355 shares during the period. Impact Investors Inc’s holdings in Ameriprise Financial were worth $449,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $742,438,000. AQR Capital Management LLC grew its position in Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after buying an additional 496,319 shares during the period. M&T Bank Corp grew its position in shares of Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock valued at $228,572,000 after acquiring an additional 435,885 shares during the period. First Trust Advisors LP grew its position in shares of Ameriprise Financial by 85.5% during the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after acquiring an additional 381,754 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in shares of Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after purchasing an additional 275,659 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating on the stock. Morgan Stanley increased their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Piper Sandler raised their target price on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Finally, BMO Capital Markets upped their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Price Performance

AMP opened at $489.54 on Thursday. The firm has a 50-day moving average price of $463.80 and a 200-day moving average price of $472.66. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $44.01 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.06 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS 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 company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the company posted $9.50 EPS. Ameriprise Financial’s revenue was up 9.7% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial, Inc. will post 43.01 EPS for the current 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 given a dividend of $1.70 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Insiders Place Their Bets

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following 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 position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by company insiders.

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.