Plimoth Trust Co. LLC Sells 365 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Plimoth Trust Co. LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 23.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,215 shares of the financial services provider’s stock after selling 365 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Ameriprise Financial were worth $533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aua Capital Management LLC lifted its position in shares of Ameriprise Financial by 4.7% in the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 27 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in shares of Ameriprise Financial by 1.1% during the 4th quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock valued at $1,128,000 after acquiring an additional 31 shares during the last quarter. First Bank & Trust grew its holdings in shares of Ameriprise Financial by 3.4% in the first quarter. First Bank & Trust now owns 934 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 31 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Ameriprise Financial by 5.1% in the 4th quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock worth $249,000 after buying an additional 32 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Ameriprise Financial by 1.4% in the 4th quarter. Signaturefd LLC now owns 2,270 shares of the financial services provider’s stock worth $862,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of AMP opened at $433.81 on Wednesday. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $446.32. The stock has a fifty day moving average price of $428.75 and a 200-day moving average price of $411.20. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a market cap of $43.09 billion, a PE ratio of 14.77, a P/E/G ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. 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 earned $7.25 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a dividend of $1.48 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.36%. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent research reports. Argus lifted their price target on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Piper Sandler dropped their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group raised their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Morgan Stanley upped their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Raymond James started coverage on Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $456.22.

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.