Bank of New York Mellon Corp Sells 26,336 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Bank of New York Mellon Corp lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 921,865 shares of the financial services provider’s stock after selling 26,336 shares during the period. Bank of New York Mellon Corp owned about 0.95% of Ameriprise Financial worth $490,829,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mengis Capital Management Inc. bought a new position in Ameriprise Financial in the fourth quarter worth approximately $213,000. Quartz Partners LLC raised its stake in Ameriprise Financial by 6.1% in the fourth quarter. Quartz Partners LLC now owns 6,024 shares of the financial services provider’s stock worth $3,207,000 after buying an additional 346 shares in the last quarter. Asset Advisors Investment Management LLC raised its stake in Ameriprise Financial by 1.3% in the fourth quarter. Asset Advisors Investment Management LLC now owns 23,672 shares of the financial services provider’s stock worth $12,604,000 after buying an additional 295 shares in the last quarter. Birchcreek Wealth Management LLC increased its position in shares of Ameriprise Financial by 19.1% during the fourth quarter. Birchcreek Wealth Management LLC now owns 641 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 103 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Ameriprise Financial during the fourth quarter worth $1,842,000. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.96% of the stock is owned by insiders.

Ameriprise Financial Price Performance

Shares of AMP opened at $521.85 on Wednesday. The firm has a market capitalization of $50.16 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial, Inc. has a 1-year low of $385.74 and a 1-year high of $582.05. The company’s fifty day moving average price is $539.71 and its 200-day moving average price is $513.01.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating 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%. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMP. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler upped their price target on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $510.44.

About Ameriprise Financial

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.