Ameriprise Financial, Inc. $AMP Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 841,984 shares of the financial services provider’s stock after selling 22,151 shares during the period. Deutsche Bank AG’s holdings in Ameriprise Financial were worth $412,858,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SouthState Bank Corp boosted its position in shares of Ameriprise Financial by 78.6% in the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 22 shares in the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth $30,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 3rd quarter worth $32,000. Ares Financial Consulting LLC acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth $32,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Ameriprise Financial in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $451.50 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The business has a 50-day moving average price of $456.46 and a 200 day moving average price of $472.82. The firm has a market cap of $40.59 billion, a PE ratio of 11.23, a P/E/G ratio of 0.95 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the business earned $9.50 EPS. Ameriprise Financial’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a $1.70 dividend. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

Insider Activity

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares in the company, valued at $2,934,729. The trade was a 16.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMP. Morgan Stanley raised their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Piper Sandler lifted their price target on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. Finally, BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $543.22.

About Ameriprise Financial

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.