Sandy Cove Advisors LLC Decreases Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Sandy Cove Advisors LLC decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,890 shares of the financial services provider’s stock after selling 57 shares during the quarter. Ameriprise Financial accounts for about 0.6% of Sandy Cove Advisors LLC’s holdings, making the stock its 28th biggest holding. Sandy Cove Advisors LLC’s holdings in Ameriprise Financial were worth $1,267,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in Ameriprise Financial in the fourth quarter valued at $514,539,000. First Trust Advisors LP boosted its holdings in shares of Ameriprise Financial by 1,001.2% in the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after acquiring an additional 512,884 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Ameriprise Financial by 151.5% during the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares during the period. Epoch Investment Partners Inc. lifted its position in Ameriprise Financial by 104.7% in the fourth quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock valued at $145,183,000 after purchasing an additional 195,475 shares during the period. Finally, Gillson Capital LP purchased a new position in Ameriprise Financial in the fourth quarter valued at about $47,511,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 0.7 %

AMP traded down $3.15 on Friday, reaching $427.19. 1,293,190 shares of the company traded hands, compared to its average volume of 421,545. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $446.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $42.43 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 0.73 and a beta of 1.36. The stock’s 50 day moving average price is $428.66 and its 200-day moving average price is $410.60.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.25 earnings per share. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.95 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a $1.48 dividend. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.39%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMP. Evercore ISI raised their target price on 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 Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group raised their price target 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. Finally, Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $456.22.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by insiders.

Ameriprise Financial 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.