Martingale Asset Management L P Buys 18,764 Shares of Ameriprise Financial, Inc. $AMP

Martingale Asset Management L P lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 70.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,484 shares of the financial services provider’s stock after purchasing an additional 18,764 shares during the quarter. Martingale Asset Management L P’s holdings in Ameriprise Financial were worth $22,303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Korea Investment CORP boosted its position in shares of Ameriprise Financial by 3.6% during the 4th quarter. Korea Investment CORP now owns 93,126 shares of the financial services provider’s stock worth $45,663,000 after purchasing an additional 3,242 shares in the last quarter. Banco Santander S.A. boosted its position in shares of Ameriprise Financial by 8.1% during the 4th quarter. Banco Santander S.A. now owns 5,647 shares of the financial services provider’s stock worth $2,769,000 after purchasing an additional 424 shares in the last quarter. Wealthspire Advisors LLC boosted its position in shares of Ameriprise Financial by 28.6% during the 4th quarter. Wealthspire Advisors LLC now owns 2,656 shares of the financial services provider’s stock worth $1,302,000 after purchasing an additional 590 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Ameriprise Financial by 4.2% during the 4th quarter. Macquarie Group Ltd. now owns 26,120 shares of the financial services provider’s stock worth $12,808,000 after purchasing an additional 1,059 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Ameriprise Financial by 11.3% during the 4th quarter. Advisors Asset Management Inc. now owns 2,252 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMP shares. Piper Sandler raised their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating on the stock. BMO Capital Markets raised 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. Morgan Stanley raised 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. Finally, Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $543.22.

Ameriprise Financial Stock Up 1.8%

Ameriprise Financial stock opened at $458.54 on Friday. 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 $41.22 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 0.95 and a beta of 1.16. The firm’s fifty day moving average price is $457.02 and its two-hundred day moving average price is $472.73. 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 released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $9.50 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a $1.70 dividend. 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 is currently 16.91%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director owned 6,300 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, 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 completion of the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial 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.