BI Asset Management Fondsmaeglerselskab A S Boosts Stake in Ameriprise Financial, Inc. $AMP

BI Asset Management Fondsmaeglerselskab A S lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 8.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,894 shares of the financial services provider’s stock after purchasing an additional 8,218 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Ameriprise Financial were worth $49,963,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Holos Integrated Wealth LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $32,000. Ares Financial Consulting LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at $32,000. WFA of San Diego LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $36,000. Finally, Activest Wealth Management raised its position in shares of Ameriprise Financial by 777.8% during the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 70 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMP has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. BMO Capital Markets lifted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating on the stock. Finally, Weiss Ratings downgraded shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Price Performance

AMP stock opened at $455.89 on Friday. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $455.93 and a 200 day moving average price of $472.49. The stock has a market cap of $40.98 billion, a PE ratio of 11.34, a P/E/G ratio of 1.07 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the company earned $9.50 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Insider Transactions at Ameriprise Financial

In related news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.