Greenleaf Trust Buys 48 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Greenleaf Trust raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,949 shares of the financial services provider’s stock after purchasing an additional 48 shares during the period. Greenleaf Trust’s holdings in Ameriprise Financial were worth $2,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Czech National Bank increased its stake in Ameriprise Financial by 5.7% in the third quarter. Czech National Bank now owns 20,002 shares of the financial services provider’s stock valued at $9,397,000 after purchasing an additional 1,074 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ameriprise Financial by 15.6% during the third quarter. GAMMA Investing LLC now owns 4,102 shares of the financial services provider’s stock worth $1,927,000 after acquiring an additional 554 shares in the last quarter. Diversified Trust Co increased its position in shares of Ameriprise Financial by 0.9% during the third quarter. Diversified Trust Co now owns 7,610 shares of the financial services provider’s stock worth $3,575,000 after acquiring an additional 65 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Ameriprise Financial by 5.7% during the third quarter. Miracle Mile Advisors LLC now owns 741 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 40 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of Ameriprise Financial by 6.6% during the third quarter. Atomi Financial Group Inc. now owns 664 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 41 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, January 27th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $509.33.

Ameriprise Financial Trading Down 0.9 %

Shares of AMP stock opened at $542.83 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $52.66 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.87 and a beta of 1.36. Ameriprise Financial, Inc. has a 52-week low of $378.05 and a 52-week high of $582.05. The company has a 50-day simple moving average of $547.55 and a two-hundred day simple moving average of $498.01.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.46%. Research analysts anticipate that Ameriprise Financial, Inc. will post 39.04 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

About Ameriprise Financial

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.