Ameriprise Financial, Inc. (NYSE:AMP) Position Cut by Bank of Nova Scotia

Bank of Nova Scotia decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 60.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,004 shares of the financial services provider's stock after selling 22,494 shares during the period. Bank of Nova Scotia's holdings in Ameriprise Financial were worth $7,990,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Howard Capital Management Group LLC boosted its stake in Ameriprise Financial by 11.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider's stock worth $840,000 after buying an additional 178 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Ameriprise Financial in the third quarter worth approximately $940,000. Point72 Asset Management L.P. purchased a new stake in Ameriprise Financial in the third quarter valued at approximately $87,000. Passumpsic Savings Bank purchased a new stake in Ameriprise Financial in the third quarter valued at approximately $211,000. Finally, Anchor Investment Management LLC increased its position in Ameriprise Financial by 3,275.0% during the third quarter. Anchor Investment Management LLC now owns 270 shares of the financial services provider's stock worth $127,000 after purchasing an additional 262 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company's stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their position. 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.

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Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $570.00 to $520.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. 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, February 3rd. Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price of $517.44.

Ameriprise Financial Stock Up 0.4 %

Shares of AMP traded up $2.04 during mid-day trading on Tuesday, reaching $476.49. 372,557 shares of the stock traded hands, compared to its average volume of 495,105. The stock has a fifty day simple moving average of $499.79 and a 200 day simple moving average of $523.49. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $45.80 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released 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 net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.24%. Ameriprise Financial's dividend payout ratio (DPR) is presently 17.91%.

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.