Ameriprise Financial, Inc. $AMP Holdings Lifted by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 11.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 634,413 shares of the financial services provider’s stock after purchasing an additional 65,687 shares during the quarter. Legal & General Group Plc’s holdings in Ameriprise Financial were worth $311,655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMP. CreativeOne Wealth LLC boosted its position in shares of Ameriprise Financial by 2.3% during the 2nd quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 21 shares in the last quarter. Rexford Capital Inc. grew its stake in shares of Ameriprise Financial by 20.6% in the 3rd quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 21 shares during the last quarter. Dakota Community Bank & Trust NA raised its holdings in shares of Ameriprise Financial by 2.4% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 22 shares in the last quarter. WealthTrust Asset Management LLC raised its holdings in shares of Ameriprise Financial by 1.5% in the 2nd quarter. WealthTrust Asset Management LLC now owns 1,565 shares of the financial services provider’s stock worth $835,000 after purchasing an additional 23 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Ameriprise Financial by 0.8% during the third quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock valued at $1,504,000 after purchasing an additional 23 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $450.42 on Thursday. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.06 and a beta of 1.27. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $493.63 and a 200 day simple moving average of $485.98.

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

Ameriprise Financial Dividend Announcement

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

Insider Buying and Selling

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares in the company, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,658 shares of company stock worth $8,998,675. Insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of research reports. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Morgan Stanley raised their price objective on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Jefferies Financial Group lifted their target price on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.