Handelsbanken Fonder AB Sells 9,050 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Handelsbanken Fonder AB trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 22.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,418 shares of the financial services provider’s stock after selling 9,050 shares during the period. Handelsbanken Fonder AB’s holdings in Ameriprise Financial were worth $11,933,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Ameriprise Financial by 35.7% during the 4th quarter. CWM LLC now owns 3,301 shares of the financial services provider’s stock valued at $1,254,000 after purchasing an additional 868 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Ameriprise Financial by 1.2% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,601 shares of the financial services provider’s stock worth $3,647,000 after acquiring an additional 118 shares during the period. Signaturefd LLC increased its position in shares of Ameriprise Financial by 1.4% during the fourth quarter. Signaturefd LLC now owns 2,270 shares of the financial services provider’s stock worth $862,000 after acquiring an additional 32 shares during the period. Lindbrook Capital LLC increased its position in shares of Ameriprise Financial by 2.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,176 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 60 shares during the period. Finally, abrdn plc increased its position in shares of Ameriprise Financial by 15.0% during the fourth quarter. abrdn plc now owns 91,016 shares of the financial services provider’s stock worth $34,571,000 after acquiring an additional 11,845 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the transaction, the director now owns 12,500 shares of the company’s stock, valued at $4,832,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the completion of the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock valued at $35,560,647 over the last 90 days. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Trading Down 3.3 %

NYSE:AMP opened at $407.27 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $279.85 and a 12 month high of $440.67. The firm has a fifty day simple moving average of $417.72 and a 200-day simple moving average of $379.75. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $40.80 billion, a P/E ratio of 17.18, a PEG ratio of 0.69 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the firm posted $7.25 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is 22.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMP. The Goldman Sachs Group raised their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Evercore ISI lifted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Piper Sandler lifted their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $441.00.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.