Proficio Capital Partners LLC Boosts Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Proficio Capital Partners LLC lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 79,679.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,772 shares of the financial services provider’s stock after buying an additional 371,306 shares during the period. Proficio Capital Partners LLC owned approximately 0.38% of Ameriprise Financial worth $197,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after purchasing an additional 338,298 shares during the period. Assenagon Asset Management S.A. raised its stake in Ameriprise Financial by 816.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock worth $116,698,000 after purchasing an additional 195,271 shares during the period. The Manufacturers Life Insurance Company raised its stake in Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after purchasing an additional 143,648 shares during the period. Finally, Maj Invest Holding A S raised its stake in Ameriprise Financial by 67.5% during the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock worth $187,466,000 after purchasing an additional 141,927 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Trading Up 0.6 %

Shares of AMP stock opened at $525.33 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $50.49 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The company has a 50 day moving average price of $539.74 and a 200 day moving average price of $513.10. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

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

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,636 shares of company stock worth $6,263,989. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.