Cullen Frost Bankers Inc. Cuts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Cullen Frost Bankers Inc. lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.9% during the fourth quarter, Holdings Channel reports. The fund owned 4,348 shares of the financial services provider’s stock after selling 225 shares during the period. Cullen Frost Bankers Inc.’s holdings in Ameriprise Financial were worth $2,315,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMP. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at $28,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $30,000. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth about $36,000. SRS Capital Advisors Inc. raised its position in shares of Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 20 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Ameriprise Financial during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMP. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Morgan Stanley increased their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler increased their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $514.89.

Ameriprise Financial Trading Down 0.7 %

Shares of Ameriprise Financial stock opened at $499.28 on Friday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $47.99 billion, a P/E ratio of 15.10, a PEG ratio of 1.15 and a beta of 1.33. The company’s fifty day moving average is $536.85 and its two-hundred day moving average is $517.04.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.19%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% 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.