Entropy Technologies LP Has $2.61 Million Stake in Ameriprise Financial, Inc. $AMP

Entropy Technologies LP decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 64.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,316 shares of the financial services provider’s stock after selling 9,811 shares during the period. Entropy Technologies LP’s holdings in Ameriprise Financial were worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $742,438,000. M&T Bank Corp increased its holdings in shares of Ameriprise Financial by 1,440.2% during the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after buying an additional 435,885 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Ameriprise Financial by 85.5% during the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock worth $406,216,000 after buying an additional 381,754 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after buying an additional 275,659 shares in the last quarter. Finally, Man Group plc increased its holdings in shares of Ameriprise Financial by 687.4% during the third quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock worth $135,989,000 after buying an additional 241,665 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $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. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMP shares. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. BMO Capital Markets raised their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating for the company. Finally, Piper Sandler raised their price target on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $543.22.

Ameriprise Financial Price Performance

AMP opened at $458.54 on Monday. The company has a fifty day moving average price of $457.02 and a two-hundred day moving average price of $472.92. 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 52 week low of $422.37 and a 52 week high of $550.18. The firm has a market capitalization of $41.22 billion, a PE ratio of 11.40, a P/E/G 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 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the business earned $9.50 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced 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 a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

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.