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

Plimoth Trust Co. LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 23.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,215 shares of the financial services provider’s stock after selling 365 shares during the period. Plimoth Trust Co. LLC’s holdings in Ameriprise Financial were worth $533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AMP. Sound Income Strategies LLC bought a new position in Ameriprise Financial during the first quarter valued at $32,000. Annapolis Financial Services LLC increased its holdings in Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 65 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at about $34,000. Wetzel Investment Advisors Inc. purchased a new stake in Ameriprise Financial during the fourth quarter valued at about $34,000. Finally, Fortitude Family Office LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $39,000. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Up 1.8 %

AMP opened at $433.81 on Wednesday. The business’s fifty day simple moving average is $428.75 and its 200 day simple moving average is $411.20. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $446.32. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock 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 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $7.25 EPS. As a group, research analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were paid a $1.48 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.36%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AMP shares. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Argus boosted their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Raymond James began coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Piper Sandler lowered their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Finally, Evercore ISI upped their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $456.22.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’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 transaction, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.96% of the company’s stock.

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.