Great Diamond Partners LLC Sells 2,709 Shares of Ameriprise Financial, Inc. $AMP

Great Diamond Partners LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 38.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,327 shares of the financial services provider’s stock after selling 2,709 shares during the period. Great Diamond Partners LLC’s holdings in Ameriprise Financial were worth $2,122,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. MJP Associates Inc. ADV grew its holdings in shares of Ameriprise Financial by 22.2% during the fourth quarter. MJP Associates Inc. ADV now owns 1,577 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 286 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Ameriprise Financial during the fourth quarter worth $476,000. ABN Amro Investment Solutions grew its holdings in shares of Ameriprise Financial by 9.5% during the fourth quarter. ABN Amro Investment Solutions now owns 20,134 shares of the financial services provider’s stock worth $9,873,000 after purchasing an additional 1,755 shares during the last quarter. Rathbones Group PLC lifted its stake in shares of Ameriprise Financial by 2.1% during the fourth quarter. Rathbones Group PLC now owns 1,200 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 25 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Ameriprise Financial by 9.5% during the fourth quarter. IFP Advisors Inc now owns 1,411 shares of the financial services provider’s stock valued at $692,000 after acquiring an additional 123 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several research reports. BMO Capital Markets upped their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Jefferies Financial Group upped their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Piper Sandler upped their price target on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $543.22.

Ameriprise Financial Trading Down 1.4%

Shares of AMP opened at $457.39 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 12-month low of $422.37 and a 12-month high of $550.18. The firm has a market capitalization of $41.12 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The stock’s fifty day simple moving average is $454.40 and its 200-day simple moving average is $473.43.

Ameriprise Financial (NYSE:AMP) last released its 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 for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm posted $9.50 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 1.5%. Ameriprise Financial’s payout ratio is currently 16.91%.

Insider Buying and Selling

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

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.