OLD National Bancorp IN Lowers Stock Holdings in Ameriprise Financial, Inc. $AMP

OLD National Bancorp IN reduced its position in Ameriprise Financial, Inc. (NYSE:AMPFree Report) by 11.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,818 shares of the financial services provider’s stock after selling 1,834 shares during the quarter. OLD National Bancorp IN’s holdings in Ameriprise Financial were worth $7,266,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of AMP. Holos Integrated Wealth LLC acquired a new position in Ameriprise Financial in the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter worth $32,000. WFA of San Diego LLC acquired a new stake in shares of Ameriprise Financial in the 2nd quarter worth $36,000. Salomon & Ludwin LLC lifted its stake in shares of Ameriprise Financial by 76.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 43 shares during the period. Finally, Corundum Trust Company INC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter worth $49,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 1.9%

AMP stock opened at $459.69 on Friday. The company has a market cap of $41.91 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.15 and a beta of 1.27. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The company’s 50-day moving average price is $454.74 and its 200 day moving average price is $474.78. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMPGet Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the company posted $9.50 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts expect that Ameriprise Financial, Inc. will post 41.06 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, Piper Sandler decreased their price target on Ameriprise Financial from $530.00 to $460.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $544.22.

Read Our Latest Stock Report on Ameriprise Financial

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,658 shares of company stock valued at $8,998,675 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Key Headlines Impacting Ameriprise Financial

Here are the key news stories impacting Ameriprise Financial this week:

About Ameriprise Financial

(Free Report)

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.

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Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMPFree Report).

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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