Canal Capital Management LLC Sells 68 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

21 Apr 2025, 11:48 by Mitch Edgeman · The Markets Daily

Canal Capital Management LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP – Free Report) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 848 shares of the financial services provider’s stock after selling 68 shares during the period. Canal Capital Management LLC’s holdings in Ameriprise Financial were worth $452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC bought a new position in Ameriprise Financial during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial during the fourth quarter worth about $28,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Ameriprise Financial in the 4th quarter worth approximately $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $36,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the topic of several research analyst reports. Raymond James raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Morgan Stanley increased their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $517.44.

Read Our Latest Stock Report on AMP

Ameriprise Financial Stock Up 0.3 %

Shares of NYSE:AMP opened at $464.57 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a 50 day simple moving average of $494.40 and a 200-day simple moving average of $523.25. The company has a market capitalization of $44.51 billion, a PE ratio of 14.05, a P/E/G ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a twelve month low of $385.74 and a twelve month high of $582.05.

Ameriprise Financial (NYSE:AMP – Get Free Report) 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%. On average, equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.27%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.91%.

Insider Transactions at Ameriprise Financial

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 over the last three months. 0.73% of the stock is currently owned by insiders.

Ameriprise Financial Company Profile

(Free Report)

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.