Pictet Asset Management Holding SA Grows Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Pictet Asset Management Holding SA grew its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,461 shares of the financial services provider’s stock after purchasing an additional 7,510 shares during the period. Pictet Asset Management Holding SA owned approximately 0.07% of Ameriprise Financial worth $34,853,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $689,272,000. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider’s stock worth $2,556,683,000 after acquiring an additional 516,437 shares during the period. Proficio Capital Partners LLC grew its stake in Ameriprise Financial by 79,679.4% during the 4th quarter. Proficio Capital Partners LLC now owns 371,772 shares of the financial services provider’s stock valued at $197,943,000 after purchasing an additional 371,306 shares during the last quarter. Robeco Institutional Asset Management B.V. raised 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 worth $222,103,000 after purchasing an additional 338,298 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Ameriprise Financial by 48.0% during the fourth quarter. Amundi now owns 642,226 shares of the financial services provider’s stock worth $343,546,000 after purchasing an additional 208,195 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Down 3.4 %

AMP stock opened at $481.64 on Monday. The business’s 50-day moving average is $524.55 and its 200 day moving average is $523.67. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The stock has a market cap of $46.29 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.15 and a beta of 1.33. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS 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%. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $514.89.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 in the last ninety days. 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.