AustralianSuper Pty Ltd Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

AustralianSuper Pty Ltd lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 41.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,309 shares of the financial services provider’s stock after buying an additional 74,705 shares during the quarter. AustralianSuper Pty Ltd owned 0.26% of Ameriprise Financial worth $136,467,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after buying an additional 358,699 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Ameriprise Financial by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after buying an additional 31,158 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after buying an additional 338,298 shares in the last quarter. Maj Invest Holding A S boosted its stake in shares of Ameriprise Financial by 67.5% in the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock valued at $187,466,000 after buying an additional 141,927 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Ameriprise Financial by 3.8% in the third quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider’s stock valued at $116,603,000 after buying an additional 8,989 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMP. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler boosted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $510.44.

Ameriprise Financial Stock Performance

NYSE AMP opened at $546.69 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The stock has a market cap of $53.03 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The business has a fifty day moving average of $541.49 and a 200-day moving average of $504.41. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.08%. Ameriprise Financial’s payout ratio is currently 17.91%.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.