Astoria Portfolio Advisors LLC. Sells 95 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Astoria Portfolio Advisors LLC. lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 9.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 934 shares of the financial services provider’s stock after selling 95 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in Ameriprise Financial were worth $384,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMP. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter worth about $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at about $34,000. Wetzel Investment Advisors Inc. bought a new stake in Ameriprise Financial during the 4th quarter valued at about $34,000. Fortitude Family Office LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at about $39,000. Finally, American National Bank lifted its holdings in Ameriprise Financial by 116.3% during the 1st quarter. American National Bank now owns 106 shares of the financial services provider’s stock valued at $46,000 after buying an additional 57 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AMP. Morgan Stanley raised their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Evercore ISI raised their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Argus lifted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Raymond James started coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $456.22.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $427.71 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $446.32. The company has a 50 day simple moving average of $428.66 and a two-hundred day simple moving average of $410.32. The stock has a market cap of $42.48 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 0.73 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the business posted $7.25 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts predict that Ameriprise Financial, Inc. will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were paid a $1.48 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, May 3rd. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by insiders.

About Ameriprise Financial

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.