4,042 Shares in Ameriprise Financial, Inc. (NYSE:AMP) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,042 shares of the financial services provider’s stock, valued at approximately $2,152,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Czech National Bank increased its position in shares of Ameriprise Financial by 5.2% during the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock worth $11,200,000 after purchasing an additional 1,033 shares during the last quarter. Bridgewater Associates LP increased its position in shares of Ameriprise Financial by 97.8% during the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after purchasing an additional 24,968 shares during the last quarter. Empowered Funds LLC grew its position in Ameriprise Financial by 19.9% in the 3rd quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after acquiring an additional 1,329 shares in the last quarter. SpiderRock Advisors LLC grew its position in Ameriprise Financial by 136.3% in the 3rd quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after acquiring an additional 1,867 shares in the last quarter. Finally, Aljian Capital Management LLC acquired a new position in Ameriprise Financial in the 3rd quarter valued at about $458,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on AMP shares. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday. Piper Sandler lifted their target price on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $510.44.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is owned by company insiders.

Ameriprise Financial Stock Performance

Shares of AMP opened at $541.99 on Friday. The stock has a 50-day simple moving average of $544.84 and a 200-day simple moving average of $500.82. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59. The stock has a market capitalization of $52.58 billion, a PE ratio of 16.39, a PEG ratio of 1.18 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year 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 (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, analysts predict that Ameriprise Financial, Inc. will post 38.68 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 dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s payout ratio is 17.91%.

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.