Diversified Trust Co Has $3.18 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Diversified Trust Co lessened its position in Ameriprise Financial, Inc. (NYSE:AMP) by 18.9% in the first quarter, HoldingsChannel reports. The fund owned 7,242 shares of the financial services provider’s stock after selling 1,686 shares during the quarter. Diversified Trust Co’s holdings in Ameriprise Financial were worth $3,175,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AMP. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial in the first quarter valued at approximately $32,000. Annapolis Financial Services LLC grew its stake in Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 65 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $34,000. Wetzel Investment Advisors Inc. acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $34,000. Finally, Fortitude Family Office LLC acquired a new stake in Ameriprise Financial in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $426.00 on Tuesday. The business’s fifty day simple moving average is $428.66 and its 200 day simple moving average is $410.88. The firm has a market capitalization of $42.31 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $446.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company posted $7.25 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 34.95 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler dropped their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Jefferies Financial Group raised their target price on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. Finally, Royal Bank of Canada raised their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $456.22.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.96% 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.