Barclays PLC Grows Stock Position in Ameriprise Financial, Inc. $AMP

Barclays PLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 11.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 367,799 shares of the financial services provider’s stock after purchasing an additional 38,380 shares during the period. Barclays PLC’s holdings in Ameriprise Financial were worth $180,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. NEOS Investment Management LLC grew its position 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 valued at $6,029,000 after purchasing an additional 3,838 shares in the last quarter. Pensionfund Sabic purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $1,471,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 valued at $98,388,000 after purchasing an additional 10,782 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Ameriprise Financial by 2,600.0% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,483 shares of the financial services provider’s stock valued at $1,711,000 after purchasing an additional 3,354 shares in the last quarter. Finally, Aberdeen Group plc grew its position in shares of Ameriprise Financial by 32.4% in the third quarter. Aberdeen Group plc now owns 94,385 shares of the financial services provider’s stock valued at $47,154,000 after purchasing an additional 23,085 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other news, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value 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. The trade was a 50.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s 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 directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Down 0.1%

NYSE AMP opened at $458.54 on Monday. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average of $457.02 and a 200-day moving average of $472.92. The firm has a market cap of $41.22 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results 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 return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the company posted $9.50 EPS. Ameriprise Financial’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a $1.70 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMP. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. BMO Capital Markets lifted their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Piper Sandler boosted their target price on 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 boosted their target price on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.