Ameriprise Financial, Inc. $AMP Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,604 shares of the financial services provider’s stock after selling 1,571 shares during the quarter. Copeland Capital Management LLC’s holdings in Ameriprise Financial were worth $14,045,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 50 shares during the last quarter. Empowered Funds LLC boosted its holdings in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares during the last quarter. Sivia Capital Partners LLC grew its position in Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 72 shares during the period. Schnieders Capital Management LLC. acquired a new stake in Ameriprise Financial during the 2nd quarter worth about $313,000. Finally, Gabelli Funds LLC grew its position in Ameriprise Financial by 224.8% during the 2nd quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after purchasing an additional 2,922 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Trading Down 1.0%

Shares of Ameriprise Financial stock opened at $527.91 on Friday. The firm has a 50-day simple moving average of $470.45 and a two-hundred day simple moving average of $473.87. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The company has a market cap of $47.46 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 0.95 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its 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. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the firm earned $9.50 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a $1.70 dividend. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is 16.91%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMP. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Morgan Stanley raised their target price on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Piper Sandler lifted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings downgraded Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, BMO Capital Markets upped their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. 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 company’s stock. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $553.67.

Insider Activity at Ameriprise Financial

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

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.