Stock Yards Bank & Trust Co. Acquires New Position in Ameriprise Financial, Inc. (NYSE:AMP)

Stock Yards Bank & Trust Co. acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 569 shares of the financial services provider’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Ameriprise Financial in the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at about $34,000. Carmel Capital Partners LLC acquired a new position in Ameriprise Financial in the third quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $34,000. Finally, Fortitude Family Office LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $39,000. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on AMP. Evercore ISI lifted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley lifted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Raymond James began coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. UBS Group lifted their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada lifted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $449.57.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now directly owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at $3,056,378. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock worth $35,560,647 over the last ninety days. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $412.86 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock has a 50 day simple moving average of $418.15 and a 200-day simple moving average of $379.98. The company has a market cap of $41.36 billion, a PE ratio of 14.05, a P/E/G ratio of 0.69 and a beta of 1.36. Ameriprise Financial, Inc. has a 12-month low of $279.85 and a 12-month high of $440.67.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 78.98% and a net margin of 19.42%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.25 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 34.43 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.43%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is 18.38%.

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.