D.A. Davidson & CO. Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Posted by on Apr 30th, 2023

D.A. Davidson & CO. lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,995 shares of the financial services provider’s stock after selling 132 shares during the quarter. D.A. Davidson & CO.’s holdings in Ameriprise Financial were worth $621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stonegate Investment Group LLC boosted its stake in shares of Ameriprise Financial by 1.9% during the 3rd quarter. Stonegate Investment Group LLC now owns 1,826 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 34 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Ameriprise Financial by 2.8% during the 3rd quarter. Checchi Capital Advisers LLC now owns 1,346 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 37 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Ameriprise Financial by 2.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,792 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 38 shares during the period. Clearstead Advisors LLC boosted its stake in shares of Ameriprise Financial by 2.9% during the 3rd quarter. Clearstead Advisors LLC now owns 1,382 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 39 shares during the period. Finally, Cerro Pacific Wealth Advisors LLC boosted its stake in shares of Ameriprise Financial by 1.4% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 2,780 shares of the financial services provider’s stock worth $865,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Ameriprise Financial Trading Up 0.9 %

NYSE:AMP opened at $305.12 on Friday. Ameriprise Financial, Inc. has a one year low of $219.99 and a one year high of $357.46. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.69 and a current ratio of 0.66. The firm has a market cap of $32.08 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.64 and a beta of 1.46. The firm has a 50-day simple moving average of $311.64 and a 200-day simple moving average of $317.27.

Ameriprise Financial (NYSE:AMP – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $7.25 EPS for the quarter, beating the consensus estimate of $7.21 by $0.04. Ameriprise Financial had a net margin of 15.41% and a return on equity of 77.32%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the business posted $5.98 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts anticipate that Ameriprise Financial, Inc. will post 30 EPS for the current fiscal year.

Ameriprise Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 19th. Investors of record on Monday, May 8th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.13%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 25.39%.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 6,390 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the completion of the transaction, the insider now owns 10,955 shares in the company, valued at approximately $3,838,084.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 39,343 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $352.08, for a total transaction of $13,851,883.44. Following the transaction, the chief executive officer now owns 157,103 shares in the company, valued at approximately $55,312,824.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Edward Sweeney sold 6,390 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the transaction, the insider now owns 10,955 shares in the company, valued at approximately $3,838,084.25. The disclosure for this sale can be found here. Insiders sold a total of 57,982 shares of company stock worth $20,441,165 in the last 90 days. 0.73% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AMP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $350.00 to $375.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 31st. Credit Suisse Group boosted their price objective on shares of Ameriprise Financial from $382.00 to $401.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Argus boosted their price objective on shares of Ameriprise Financial from $340.00 to $392.00 in a research report on Tuesday, January 31st. Morgan Stanley lowered their price objective on shares of Ameriprise Financial from $360.00 to $338.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 12th. Finally, Royal Bank of Canada lowered their price objective on shares of Ameriprise Financial from $400.00 to $385.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $349.70.

About Ameriprise Financial

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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

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