Inceptionr LLC Boosts Stake in Ameriprise Financial, Inc. $AMP

Inceptionr LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 126.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,415 shares of the financial services provider’s stock after buying an additional 1,904 shares during the period. Ameriprise Financial makes up approximately 0.4% of Inceptionr LLC’s investment portfolio, making the stock its 25th biggest holding. Inceptionr LLC’s holdings in Ameriprise Financial were worth $1,678,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMP. Norges Bank acquired a new stake in Ameriprise Financial during the 2nd quarter worth about $693,736,000. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 7.7% in the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after purchasing an additional 446,080 shares during the period. Federated Hermes Inc. increased its holdings in shares of Ameriprise Financial by 29.3% in the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after purchasing an additional 219,080 shares during the period. Close Asset Management Ltd raised its stake in shares of Ameriprise Financial by 78.2% in the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock worth $227,652,000 after purchasing an additional 203,252 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Ameriprise Financial by 29.8% in the second quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock worth $262,075,000 after purchasing an additional 112,784 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Down 1.7%

Shares of AMP opened at $464.84 on Monday. The company has a market capitalization of $42.38 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.08 and a beta of 1.27. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18. The stock’s 50-day moving average price is $495.95 and its 200-day moving average price is $486.96. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period last year, the business earned $9.54 earnings per share. Ameriprise Financial’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

Insider Activity

In related news, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,658 shares of company stock valued at $8,998,675 in the last three months. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Argus reduced their price target on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $555.67.

About Ameriprise Financial

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.