Yousif Capital Management LLC Reduces Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Yousif Capital Management LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,705 shares of the financial services provider’s stock after selling 2,858 shares during the quarter. Yousif Capital Management LLC’s holdings in Ameriprise Financial were worth $5,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in Ameriprise Financial by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after acquiring an additional 20,970 shares during the period. Invesco Ltd. lifted its position in Ameriprise Financial by 13.4% during the 3rd quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock worth $221,816,000 after acquiring an additional 79,611 shares during the period. Envestnet Asset Management Inc. lifted its position in Ameriprise Financial by 12.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock worth $204,417,000 after acquiring an additional 69,078 shares during the period. Barclays PLC lifted its position in Ameriprise Financial by 63.9% during the 3rd quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after acquiring an additional 136,621 shares during the period. Finally, Federated Hermes Inc. lifted its position in Ameriprise Financial by 6.0% during the 4th quarter. Federated Hermes Inc. now owns 304,953 shares of the financial services provider’s stock worth $115,830,000 after acquiring an additional 17,307 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at $2,485,474.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 2,493 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $401.11, for a total value of $999,967.23. Following the sale, the chief executive officer now owns 196,598 shares in the company, valued at $78,857,423.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. Insiders have sold a total of 79,472 shares of company stock worth $31,779,805 over the last quarter. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

AMP stock opened at $410.64 on Friday. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50 day moving average price is $418.41 and its 200 day moving average price is $380.19. The firm has a market cap of $41.14 billion, a P/E ratio of 13.98, a PEG ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the firm posted $7.25 EPS. Ameriprise Financial’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.58 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a dividend of $1.48 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.44%. Ameriprise Financial’s dividend payout ratio is 18.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group increased their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Morgan Stanley increased their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. UBS Group increased their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Evercore ISI increased their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $449.57.

Ameriprise Financial 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.