Healthcare of Ontario Pension Plan Trust Fund Cuts Holdings in Ameriprise Financial, Inc. $AMP

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 48.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 96,177 shares of the financial services provider’s stock after selling 90,619 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Ameriprise Financial were worth $47,159,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMP. SouthState Bank Corp boosted its stake in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 22 shares during the last quarter. Holos Integrated Wealth LLC bought a new position in shares of Ameriprise Financial during the 4th quarter valued at $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 bought a new position in shares of Ameriprise Financial during the 4th quarter valued at $32,000. Finally, WFA of San Diego LLC bought a new position in shares of Ameriprise Financial during the 2nd quarter valued at $36,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by company insiders.

Ameriprise Financial Price Performance

NYSE:AMP opened at $458.54 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The business’s 50-day simple moving average is $457.02 and its two-hundred day simple moving average is $472.92. The stock has a market cap of $41.22 billion, a PE ratio of 11.40, a P/E/G ratio of 0.97 and a beta of 1.16. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $9.50 earnings per share. As a group, analysts forecast that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s payout ratio is 16.91%.

Analyst Ratings Changes

Several research firms have recently weighed in on AMP. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. Piper Sandler increased their price target on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $543.22.

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.