Sapient Capital LLC Invests $1.33 Million in Ameriprise Financial, Inc. (NYSE:AMP)

Sapient Capital LLC bought a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,492 shares of the financial services provider’s stock, valued at approximately $1,326,000.

Other large investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Ameriprise Financial by 117.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,111 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 600 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Ameriprise Financial by 1.0% in the fourth quarter. Natixis Advisors L.P. now owns 125,930 shares of the financial services provider’s stock valued at $47,832,000 after acquiring an additional 1,301 shares during the last quarter. FFT Wealth Management LLC increased its stake in shares of Ameriprise Financial by 6.0% during the 4th quarter. FFT Wealth Management LLC now owns 1,020 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 58 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Ameriprise Financial by 14.9% in the fourth quarter. First Trust Direct Indexing L.P. now owns 3,069 shares of the financial services provider’s stock valued at $1,166,000 after buying an additional 397 shares during the period. Finally, Great Valley Advisor Group Inc. increased its holdings in shares of Ameriprise Financial by 18.1% in the fourth quarter. Great Valley Advisor Group Inc. now owns 991 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 152 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research 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. 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 report on Tuesday, April 9th. Piper Sandler lifted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. UBS Group upped their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $449.57.

Ameriprise Financial Stock Up 0.9 %

Shares of Ameriprise Financial stock traded up $3.94 during trading on Friday, reaching $418.95. 279,712 shares of the company traded hands, compared to its average volume of 538,489. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $41.97 billion, a PE ratio of 14.26, a P/E/G ratio of 0.71 and a beta of 1.35. The company has a 50 day moving average price of $419.94 and a 200-day moving average price of $383.20.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. The business 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%. During the same quarter in the prior year, the company earned $7.25 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is 18.38%.

Insiders Place Their Bets

In other news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James M. Cracchiolo sold 2,493 shares of Ameriprise Financial stock in a transaction on Monday, February 12th. The stock was sold at an average price of $401.11, for a total transaction of $999,967.23. Following the transaction, the chief executive officer now directly owns 196,598 shares in the company, valued at $78,857,423.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,326 shares of company stock worth $29,775,593. Insiders own 0.73% 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.