Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,531 shares of the financial services provider’s stock after selling 7,105 shares during the quarter. M&T Bank Corp’s holdings in Ameriprise Financial were worth $26,031,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Venture Visionary Partners LLC boosted its holdings in Ameriprise Financial by 2.9% in the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after purchasing an additional 416 shares in the last quarter. 17 Capital Partners LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $2,078,000. Cerity Partners LLC grew its holdings in Ameriprise Financial by 280.6% during the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock worth $11,585,000 after acquiring an additional 22,487 shares during the period. Acadian Asset Management LLC purchased a new position in Ameriprise Financial in the third quarter worth $1,150,000. Finally, Harbor Investment Advisory LLC raised its position in Ameriprise Financial by 75.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 335 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 144 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at $3,056,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the transaction, the director now owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,326 shares of company stock worth $29,775,593. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 0.9 %

NYSE AMP traded up $3.94 during trading hours on Friday, hitting $418.95. 279,712 shares of the company’s stock were exchanged, compared to its average volume of 538,489. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $41.97 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. The business’s 50 day moving average is $419.94 and its 200-day moving average is $383.20. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the business posted $7.25 earnings per share. Ameriprise Financial’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 34.74 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is presently 18.38%.

Wall Street Analyst Weigh In

AMP has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley upped their price target on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. 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. Raymond James started coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group lifted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $449.57.

Ameriprise Financial Company 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.