Glenview Trust co Sells 309 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Glenview Trust co lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,860 shares of the financial services provider’s stock after selling 309 shares during the quarter. Glenview Trust co’s holdings in Ameriprise Financial were worth $8,444,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMP. Whipplewood Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial during the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. acquired a new position in Ameriprise Financial in the 4th quarter worth about $30,000. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the fourth quarter valued at about $36,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 2.9 %

NYSE AMP opened at $485.94 on Friday. Ameriprise Financial, Inc. has a one year low of $385.74 and a one year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50 day simple moving average of $531.56 and a 200 day simple moving average of $519.08. The stock has a market capitalization of $46.71 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.15 and a beta of 1.33.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.22%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $514.89.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

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.