National Bank of Canada FI Sells 46,051 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

National Bank of Canada FI decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 43.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,817 shares of the financial services provider's stock after selling 46,051 shares during the period. National Bank of Canada FI owned about 0.06% of Ameriprise Financial worth $31,848,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMP. Geller Advisors LLC grew its position in Ameriprise Financial by 2.2% in the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock worth $412,000 after acquiring an additional 19 shares in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its stake in Ameriprise Financial by 3.4% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock worth $307,000 after purchasing an additional 19 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Ameriprise Financial by 40.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock worth $37,000 after purchasing an additional 20 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock valued at $1,419,000 after purchasing an additional 20 shares during the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of Ameriprise Financial by 2.7% during the 4th quarter. Dakota Wealth Management now owns 798 shares of the financial services provider's stock valued at $425,000 after buying an additional 21 shares in the last quarter. Institutional investors own 83.95% of the company's stock.

Remove Ads

Insiders Place Their Bets

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 shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, 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 hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was 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 of the company's stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMP. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods lifted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. Piper Sandler boosted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Finally, UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $514.89.

Ameriprise Financial Trading Down 7.5 %

NYSE:AMP traded down $34.20 during midday trading on Friday, reaching $421.61. 828,088 shares of the stock traded hands, compared to its average volume of 487,261. The stock has a market capitalization of $40.52 billion, a P/E ratio of 12.75, a PEG ratio of 1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a fifty day moving average of $515.46 and a 200 day moving average of $523.50. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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%. On average, research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

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.