Stock Yards Bank & Trust Co. Lowers Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Stock Yards Bank & Trust Co. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 27.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 486 shares of the financial services provider’s stock after selling 183 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Ameriprise Financial were worth $259,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMP. Czech National Bank raised its stake in Ameriprise Financial by 5.7% in the 3rd quarter. Czech National Bank now owns 20,002 shares of the financial services provider’s stock worth $9,397,000 after acquiring an additional 1,074 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Ameriprise Financial by 0.9% in the 3rd quarter. Diversified Trust Co now owns 7,610 shares of the financial services provider’s stock valued at $3,575,000 after acquiring an additional 65 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in shares of Ameriprise Financial by 5.7% in the third quarter. Miracle Mile Advisors LLC now owns 741 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 40 shares during the period. Atomi Financial Group Inc. raised its holdings in shares of Ameriprise Financial by 6.6% during the third quarter. Atomi Financial Group Inc. now owns 664 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 41 shares during the last quarter. Finally, Country Trust Bank lifted its position in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $535.83 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The business’s 50 day moving average price is $546.89 and its 200-day moving average price is $499.39. The firm has a market capitalization of $51.98 billion, a PE ratio of 16.21, a P/E/G ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $385.56 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results 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, equities research analysts expect that Ameriprise Financial, Inc. will post 38.68 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Analyst Ratings Changes

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

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.