Neville Rodie & Shaw Inc. Has $542,000 Stock Position in Ameriprise Financial, Inc. $AMP

Neville Rodie & Shaw Inc. cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 57.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,106 shares of the financial services provider’s stock after selling 1,502 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Ameriprise Financial were worth $542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Ameriprise Financial during the second quarter worth about $693,736,000. JPMorgan Chase & Co. increased its stake in shares of Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after acquiring an additional 446,080 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after acquiring an additional 275,659 shares during the last quarter. Man Group plc raised its position in shares of Ameriprise Financial by 687.4% in the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock valued at $135,989,000 after acquiring an additional 241,665 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after acquiring an additional 219,080 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at $3,052,529.98. This trade represents a 55.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the business’s 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 sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of analyst reports. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $434.00 to $530.00 in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Price Performance

NYSE AMP opened at $433.90 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap 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 business has a 50 day simple moving average of $486.03 and a 200 day simple moving average of $482.92. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $9.54 earnings per share. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

About Ameriprise Financial

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.