Russell Investments Group Ltd. Buys 9,859 Shares of Ameriprise Financial, Inc. $AMP

Russell Investments Group Ltd. increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 107,199 shares of the financial services provider’s stock after acquiring an additional 9,859 shares during the quarter. Russell Investments Group Ltd.’s holdings in Ameriprise Financial were worth $52,775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in Ameriprise Financial by 6.9% in the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares during the period. Empowered Funds LLC increased its position in Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 634 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Ameriprise Financial by 14.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares in the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $313,000. Finally, Penserra Capital Management LLC lifted its position in shares of Ameriprise Financial by 9.8% in the 2nd quarter. Penserra Capital Management LLC now owns 527 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 47 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the topic of several research reports. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the company a “strong-buy” rating in a research report on Wednesday, February 11th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $434.00 to $530.00 in a report on Friday, January 30th. Argus reduced their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Trading Down 1.3%

NYSE AMP opened at $455.49 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a market cap of $41.53 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27. The company has a 50 day moving average price of $494.44 and a 200 day moving average price of $486.23. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period last year, the firm earned $9.54 earnings per share. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock valued at $8,998,675 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

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.