Fisher Funds Management LTD Takes $12.62 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Fisher Funds Management LTD purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,748 shares of the financial services provider’s stock, valued at approximately $12,623,000.

A number of other hedge funds have also made changes to their positions in AMP. Howard Capital Management Group LLC increased its position in shares of Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock valued at $840,000 after buying an additional 178 shares in the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Ameriprise Financial during the third quarter valued at $206,000. Private Advisor Group LLC boosted its stake in shares of Ameriprise Financial by 10.5% during the third quarter. Private Advisor Group LLC now owns 6,417 shares of the financial services provider’s stock valued at $3,015,000 after acquiring an additional 612 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Ameriprise Financial by 9.6% during the third quarter. Ballentine Partners LLC now owns 2,206 shares of the financial services provider’s stock valued at $1,036,000 after acquiring an additional 193 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Ameriprise Financial by 15.5% during the third quarter. Allworth Financial LP now owns 4,580 shares of the financial services provider’s stock valued at $2,152,000 after acquiring an additional 614 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $510.44.

Ameriprise Financial Stock Down 2.0 %

AMP opened at $530.18 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The stock has a market capitalization of $51.43 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36. The business has a 50-day moving average of $540.50 and a two-hundred day moving average of $510.44. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, research analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is currently 17.91%.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial 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.