Wilmington Savings Fund Society FSB Sells 1,809 Shares of Ameriprise Financial, Inc. $AMP

Wilmington Savings Fund Society FSB lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 34.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,419 shares of the financial services provider’s stock after selling 1,809 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Ameriprise Financial were worth $1,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Winnow Wealth LLC bought a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the third quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial during the 3rd quarter worth $32,000. WFA of San Diego LLC bought a new position in Ameriprise Financial during the 2nd quarter worth $36,000. Finally, Salomon & Ludwin LLC raised its holdings in Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 43 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.3%

AMP stock opened at $433.90 on Friday. The firm has a 50-day moving average price of $486.03 and a 200-day moving average price of $482.92. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $39.56 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.27.

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

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio is 17.60%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares in the company, valued at $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 ninety days, insiders sold 16,658 shares of company stock worth $8,998,675. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AMP shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report 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. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their target price for the company from $434.00 to $530.00 in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.