Ameriprise Financial, Inc. $AMP Stock Position Lifted by Fiera Capital Corp

Fiera Capital Corp boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 216.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,565 shares of the financial services provider’s stock after purchasing an additional 12,017 shares during the period. Fiera Capital Corp’s holdings in Ameriprise Financial were worth $8,613,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Candriam S.C.A. raised its stake in Ameriprise Financial by 83.9% during the 3rd quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock valued at $31,361,000 after purchasing an additional 29,116 shares during the last quarter. Midwest Trust Co grew its position in Ameriprise Financial by 2.3% in the 3rd 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 position in Ameriprise Financial by 45.5% in the 3rd 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 acquired a new stake in Ameriprise Financial in the 4th quarter worth $1,471,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ameriprise Financial by 5.7% in the 4th 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. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the 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 sale, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the 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 sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. This represents a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 1.3%

AMP opened at $448.83 on Tuesday. The firm’s 50-day simple moving average is $455.94 and its 200-day simple moving average is $472.75. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The firm has a market cap of $40.35 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.07 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping 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 business 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 firm earned $9.50 EPS. The firm’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 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued 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 yield of 1.5%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s payout ratio is currently 16.91%.

Analyst Upgrades and Downgrades

AMP has been the topic of several research analyst reports. Piper Sandler raised their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. BMO Capital Markets increased their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings lowered 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 issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Company 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.