Ameriprise Financial, Inc. $AMP Shares Bought by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 81.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,360 shares of the financial services provider’s stock after acquiring an additional 1,960 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Ameriprise Financial were worth $2,138,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Foundations Investment Advisors LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $214,000. Connecticut Capital Management Group LLC purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth about $213,000. Kingsview Wealth Management LLC increased its position in shares of Ameriprise Financial by 573.5% during the fourth quarter. Kingsview Wealth Management LLC now owns 19,524 shares of the financial services provider’s stock worth $9,574,000 after acquiring an additional 16,625 shares during the last quarter. Fidelis Capital Partners LLC increased its position in shares of Ameriprise Financial by 8.3% during the fourth quarter. Fidelis Capital Partners LLC now owns 865 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 66 shares during the last quarter. Finally, AlphaQuest LLC increased its position in shares of Ameriprise Financial by 112.5% during the fourth quarter. AlphaQuest LLC now owns 7,519 shares of the financial services provider’s stock worth $3,687,000 after acquiring an additional 3,981 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 1.4%

Shares of Ameriprise Financial stock opened at $445.94 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The firm has a market cap of $40.09 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.04 and a beta of 1.20. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The business has a 50-day moving average price of $455.29 and a 200 day moving average price of $472.95.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm posted $9.50 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid a $1.70 dividend. The ex-dividend date was Monday, May 4th. This is an increase 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%. Ameriprise Financial’s payout ratio is presently 16.91%.

Insider Buying and Selling

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president directly owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AMP shares. BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Piper Sandler lifted their target price on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating for the company. Weiss Ratings lowered Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $543.22.

Ameriprise Financial Profile

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.