Glenview Trust co Sells 309 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Glenview Trust co cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,860 shares of the financial services provider’s stock after selling 309 shares during the quarter. Glenview Trust co’s holdings in Ameriprise Financial were worth $8,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Ameriprise Financial in the fourth quarter worth $30,000. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $36,000. Finally, SRS Capital Advisors Inc. raised its stake in shares of Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 2.9 %

Shares of NYSE:AMP opened at $485.94 on Friday. The firm has a market capitalization of $46.71 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The firm has a fifty day moving average of $531.56 and a 200 day moving average of $519.08.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Analysts Set New Price Targets

Several research analysts have commented on AMP shares. Morgan Stanley raised their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $514.89.

Insiders Place Their Bets

In related news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Company 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.