Legato Capital Management LLC Takes Position in Ameriprise Financial, Inc. $AMP

Legato Capital Management LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,195 shares of the financial services provider’s stock, valued at approximately $1,076,000.

Other large investors have also added to or reduced their stakes in the company. Holos Integrated Wealth LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $30,000. Redmont Wealth Advisors LLC acquired a new position in Ameriprise Financial during the third quarter worth $32,000. Ares Financial Consulting LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $32,000. WFA of San Diego LLC acquired a new position in Ameriprise Financial during the second quarter worth $36,000. Finally, Activest Wealth Management boosted its holdings in Ameriprise Financial by 777.8% during the fourth quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the transaction, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares in the company, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMP shares. Piper Sandler increased their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods started coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating for the company. BMO Capital Markets increased their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Morgan Stanley increased their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $543.22.

Ameriprise Financial Price Performance

Shares of AMP opened at $453.23 on Monday. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The firm has a market capitalization of $40.75 billion, a PE ratio of 11.27, a PEG ratio of 1.07 and a beta of 1.20. The company’s 50-day moving average is $454.35 and its 200-day moving average is $473.42. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the firm earned $9.50 earnings per share. Ameriprise Financial’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts forecast that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were given a dividend of $1.70 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s payout ratio is 16.91%.

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.