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

Legal & General Group Plc lifted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 634,413 shares of the financial services provider’s stock after acquiring an additional 65,687 shares during the period. Legal & General Group Plc owned about 0.68% of Ameriprise Financial worth $311,655,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMP. Norges Bank bought a new stake in Ameriprise Financial during the second quarter valued at $693,736,000. JPMorgan Chase & Co. lifted its position in shares of Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after buying an additional 446,080 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after buying an additional 219,080 shares during the period. Close Asset Management Ltd boosted its holdings in shares of Ameriprise Financial by 78.2% in the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock valued at $227,652,000 after buying an additional 203,252 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Ameriprise Financial by 29.8% during the 2nd quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock valued at $262,075,000 after buying an additional 112,784 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Gumer Alvero sold 4,658 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. This represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last three months. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of several research reports. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Morgan Stanley upped their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Price Performance

Shares of AMP opened at $450.42 on Thursday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18. The stock’s fifty day moving average is $493.63 and its 200-day moving average is $485.98. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $41.07 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.54 earnings per share. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

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.