Intech Investment Management LLC Has $2.26 Million Position in Ameriprise Financial, Inc. $AMP

Intech Investment Management LLC grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 92.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,607 shares of the financial services provider’s stock after acquiring an additional 2,217 shares during the period. Intech Investment Management LLC’s holdings in Ameriprise Financial were worth $2,263,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after buying an additional 50 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after acquiring an additional 634 shares during the last quarter. Sivia Capital Partners LLC increased its position in Ameriprise Financial by 14.1% during the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 72 shares during the period. Schnieders Capital Management LLC. bought a new stake in shares of Ameriprise Financial in the second quarter valued at about $313,000. Finally, Hantz Financial Services Inc. lifted its position in Ameriprise Financial by 60.4% in the second quarter. Hantz Financial Services Inc. now owns 85 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Walter Stanley Berman sold 7,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the sale, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,658 shares of company stock worth $8,998,675 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $464.82 on Wednesday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The stock has a market capitalization of $42.38 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The business has a 50-day moving average of $497.90 and a 200-day moving average of $487.74.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $9.54 earnings per share. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio is 17.60%.

Analyst Ratings Changes

A number of research analysts have issued reports on AMP shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $434.00 to $530.00 in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $555.67.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.