Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by First Merchants Corp

First Merchants Corp cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,721 shares of the financial services provider’s stock after selling 647 shares during the quarter. First Merchants Corp’s holdings in Ameriprise Financial were worth $6,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new position in Ameriprise Financial during the third quarter valued at $108,000. Wesbanco Bank Inc. raised its stake in shares of Ameriprise Financial by 9.9% during the 3rd quarter. Wesbanco Bank Inc. now owns 1,169 shares of the financial services provider’s stock valued at $549,000 after buying an additional 105 shares during the last quarter. Creative Planning lifted its holdings in shares of Ameriprise Financial by 1.6% in the 3rd quarter. Creative Planning now owns 22,571 shares of the financial services provider’s stock valued at $10,604,000 after buying an additional 348 shares during the period. Asset Dedication LLC boosted its stake in shares of Ameriprise Financial by 74.3% in the third quarter. Asset Dedication LLC now owns 176 shares of the financial services provider’s stock worth $83,000 after buying an additional 75 shares during the last quarter. Finally, Bfsg LLC grew its holdings in Ameriprise Financial by 13.1% during the third quarter. Bfsg LLC now owns 4,477 shares of the financial services provider’s stock worth $2,103,000 after acquiring an additional 520 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $540.66 on Friday. The company has a fifty day moving average of $541.99 and a two-hundred day moving average of $504.16. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The stock has a market capitalization of $52.45 billion, a PE ratio of 16.35, a P/E/G ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.09%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.