Wilmington Savings Fund Society FSB Has $1.68 Million Holdings in Ameriprise Financial, Inc. $AMP

Wilmington Savings Fund Society FSB trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 34.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,419 shares of the financial services provider’s stock after selling 1,809 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Ameriprise Financial were worth $1,680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Captrust Financial Advisors raised its position in shares of Ameriprise Financial by 5.6% during the third quarter. Captrust Financial Advisors now owns 185,851 shares of the financial services provider’s stock worth $91,299,000 after acquiring an additional 9,841 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Ameriprise Financial by 6.0% in the third quarter. Coldstream Capital Management Inc. now owns 4,590 shares of the financial services provider’s stock valued at $2,255,000 after acquiring an additional 260 shares during the last quarter. Danske Bank A S bought a new stake in Ameriprise Financial in the third quarter valued at approximately $29,620,000. NewEdge Advisors LLC increased its position in Ameriprise Financial by 1.5% during the 3rd quarter. NewEdge Advisors LLC now owns 13,155 shares of the financial services provider’s stock valued at $6,463,000 after purchasing an additional 194 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in Ameriprise Financial by 3.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 93,092 shares of the financial services provider’s stock valued at $46,481,000 after purchasing an additional 3,515 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Trading Up 0.3%

NYSE:AMP opened at $433.90 on Friday. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $39.56 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.01 and a beta of 1.27. The firm has a fifty day simple moving average of $486.03 and a two-hundred day simple moving average of $482.92.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.54 EPS. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AMP shares. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Jefferies Financial Group increased their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $555.67.

Insider Activity

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This represents a 29.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,658 shares of company stock worth $8,998,675 over the last quarter. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.