Cambridge Trust Co. Sells 403 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Cambridge Trust Co. decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,012 shares of the financial services provider’s stock after selling 403 shares during the period. Cambridge Trust Co.’s holdings in Ameriprise Financial were worth $384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. Signaturefd LLC raised its holdings in Ameriprise Financial by 1.4% in the 3rd quarter. Signaturefd LLC now owns 2,238 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 31 shares during the period. Meeder Advisory Services Inc. raised its holdings in Ameriprise Financial by 1.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 31 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Ameriprise Financial by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 33 shares during the period. CI Investments Inc. raised its holdings in Ameriprise Financial by 2.6% in the 3rd quarter. CI Investments Inc. now owns 1,336 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 34 shares during the period. Finally, Gateway Advisory LLC increased its stake in Ameriprise Financial by 1.7% in the 3rd quarter. Gateway Advisory LLC now owns 2,081 shares of the financial services provider’s stock worth $686,000 after buying an additional 34 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 1.8 %

Shares of NYSE AMP opened at $419.99 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $42.08 billion, a P/E ratio of 17.40, a PEG ratio of 0.68 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $279.85 and a 1 year high of $440.67. The firm has a 50-day simple moving average of $416.48 and a two-hundred day simple moving average of $377.00.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.67 by $0.08. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.94 earnings per share. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio is presently 22.78%.

Insider Activity

In other news, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,161 shares of company stock valued at $35,560,647. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMP. The Goldman Sachs Group raised their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Evercore ISI raised their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler raised their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley raised their price objective 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $441.00.

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.