Keybank National Association OH Sells 1,531 Shares of Ameriprise Financial, Inc. $AMP

Keybank National Association OH trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,897 shares of the financial services provider’s stock after selling 1,531 shares during the period. Keybank National Association OH’s holdings in Ameriprise Financial were worth $23,976,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Holos Integrated Wealth LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $30,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth $32,000. Ares Financial Consulting LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $32,000. WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth $36,000. Finally, Salomon & Ludwin LLC raised its stake in shares of Ameriprise Financial by 76.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insider Transactions at Ameriprise Financial

In other news, 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 value of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last quarter. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their target price on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating on the stock. BMO Capital Markets boosted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $540.33.

Ameriprise Financial Price Performance

AMP opened at $475.42 on Thursday. The company has a market capitalization of $43.35 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.17 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $454.73 and a 200-day moving average price of $474.19. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.21 by $1.05. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $9.50 earnings per share. Equities analysts expect that Ameriprise Financial, Inc. will post 41.24 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be paid a $1.70 dividend. The ex-dividend date is Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is 16.91%.

Ameriprise Financial 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.