US Asset Management LLC Buys Shares of 2,968 Ameriprise Financial, Inc. (NYSE:AMP)

US Asset Management LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 2,968 shares of the financial services provider’s stock, valued at approximately $1,127,000. Ameriprise Financial comprises about 1.1% of US Asset Management LLC’s portfolio, making the stock its 20th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in Ameriprise Financial by 1.4% in the third quarter. Signaturefd LLC now owns 2,238 shares of the financial services provider’s stock valued at $738,000 after buying an additional 31 shares during the period. Meeder Advisory Services Inc. boosted its stake in Ameriprise Financial by 1.1% during the 4th quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock valued at $1,128,000 after purchasing an additional 31 shares during the period. Fidelis Capital Partners LLC grew its holdings in Ameriprise Financial by 5.1% in the 4th quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock worth $249,000 after buying an additional 32 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Ameriprise Financial by 1.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 33 shares during the period. Finally, CI Investments Inc. lifted its stake in shares of Ameriprise Financial by 2.6% in the 3rd quarter. CI Investments Inc. now owns 1,336 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,980 shares of company stock worth $23,053,480. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $3.32 during trading on Friday, reaching $433.35. The stock had a trading volume of 81,077 shares, compared to its average volume of 487,309. The firm has a market capitalization of $43.42 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 0.71 and a beta of 1.35. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 52 week low of $286.58 and a 52 week high of $440.67. The stock has a fifty day simple moving average of $421.16 and a two-hundred day simple moving average of $386.42.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company earned $7.25 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 34.74 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.37%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMP. UBS Group lifted their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group upped their price target on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Morgan Stanley raised their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Royal Bank of Canada upped their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Argus boosted their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $450.88.

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.