Palisade Asset Management LLC Has $1.18 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Palisade Asset Management LLC decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,109 shares of the financial services provider’s stock after selling 300 shares during the quarter. Palisade Asset Management LLC’s holdings in Ameriprise Financial were worth $1,181,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of Ameriprise Financial by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock worth $294,979,000 after purchasing an additional 20,970 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Ameriprise Financial by 13.4% during the 3rd quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock worth $221,816,000 after acquiring an additional 79,611 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Ameriprise Financial by 12.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock worth $204,417,000 after acquiring an additional 69,078 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Ameriprise Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 584,707 shares of the financial services provider’s stock worth $222,089,000 after acquiring an additional 4,811 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Ameriprise Financial by 63.9% during the 3rd quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after acquiring an additional 136,621 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 13,346 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 2,493 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $401.11, for a total value of $999,967.23. Following the completion of the sale, the chief executive officer now owns 196,598 shares in the company, valued at approximately $78,857,423.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. Insiders sold 70,326 shares of company stock worth $28,229,193 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several recent research reports. Raymond James initiated coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Argus upped their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday. 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 report on Tuesday, April 9th. Royal Bank of Canada upped their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler upped their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $450.88.

Ameriprise Financial Stock Up 0.0 %

Shares of AMP traded up $0.02 during mid-day trading on Tuesday, reaching $424.98. The company had a trading volume of 398,244 shares, compared to its average volume of 495,777. The company has a market capitalization of $42.58 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. Ameriprise Financial, Inc. has a 52 week low of $286.58 and a 52 week high of $440.67. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day moving average price of $420.85 and a 200 day moving average price of $386.14.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data 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. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $7.25 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.74 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.39%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is 20.15%.

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.