Capital World Investors Acquires 5,612 Shares of Ameriprise Financial, Inc. $AMP

Capital World Investors increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 122,949 shares of the financial services provider’s stock after purchasing an additional 5,612 shares during the period. Capital World Investors’ holdings in Ameriprise Financial were worth $60,287,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Candriam S.C.A. grew its stake in shares of Ameriprise Financial by 83.9% in the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock worth $31,361,000 after purchasing an additional 29,116 shares during the last quarter. Midwest Trust Co grew its stake in shares of Ameriprise Financial by 2.3% in the third quarter. Midwest Trust Co now owns 111,048 shares of the financial services provider’s stock worth $54,552,000 after purchasing an additional 2,529 shares during the last quarter. NEOS Investment Management LLC grew its stake in shares of Ameriprise Financial by 45.5% in the third quarter. NEOS Investment Management LLC now owns 12,272 shares of the financial services provider’s stock worth $6,029,000 after purchasing an additional 3,838 shares during the last quarter. Pensionfund Sabic bought a new stake in shares of Ameriprise Financial in the fourth quarter worth $1,471,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ameriprise Financial by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after purchasing an additional 10,782 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $448.94 on Wednesday. The firm’s 50-day moving average price is $456.18 and its 200-day moving average price is $472.75. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The firm has a market capitalization of $40.36 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.95 and a beta of 1.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business earned $9.50 earnings per share. The business’s quarterly revenue 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 fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 16.91%.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

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.