Crossmark Global Holdings Inc. Sells 1,234 Shares of Ameriprise Financial, Inc. $AMP

Crossmark Global Holdings Inc. trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 11,391 shares of the financial services provider’s stock after selling 1,234 shares during the period. Crossmark Global Holdings Inc.’s holdings in Ameriprise Financial were worth $5,585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the 3rd quarter valued at $32,000. Ares Financial Consulting LLC purchased a new position in shares of Ameriprise Financial in the 4th quarter worth $32,000. WFA of San Diego LLC purchased a new position in shares of Ameriprise Financial in the 2nd quarter worth $36,000. Finally, Activest Wealth Management grew its holdings in shares of Ameriprise Financial by 777.8% in the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 70 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler increased their target price on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Jefferies Financial Group boosted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $543.22.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 5,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $465.09 on Monday. The stock has a market cap of $41.81 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s fifty day moving average is $455.15 and its 200 day moving average is $473.98. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.50 earnings per share. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 42.44 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a dividend of $1.70 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio is presently 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.