Sienna Gestion Buys 3,322 Shares of Ameriprise Financial, Inc. $AMP

Sienna Gestion grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,072 shares of the financial services provider’s stock after acquiring an additional 3,322 shares during the period. Ameriprise Financial makes up approximately 1.0% of Sienna Gestion’s portfolio, making the stock its 22nd biggest position. Sienna Gestion’s holdings in Ameriprise Financial were worth $16,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMP. Brighton Jones LLC grew its stake in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after buying an additional 50 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Ameriprise Financial by 11.8% during the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of 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 buying an additional 72 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Ameriprise Financial during the second quarter worth $313,000. Finally, Gabelli Funds LLC grew its stake in shares of Ameriprise Financial by 224.8% during the second quarter. Gabelli Funds LLC now owns 4,222 shares of the financial services provider’s stock worth $2,253,000 after buying an additional 2,922 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AMP. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. Piper Sandler boosted their target price on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Weiss Ratings lowered shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Finally, BMO Capital Markets lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $459.70 on Tuesday. The firm has a market cap of $41.33 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.97 and a beta of 1.16. The firm’s fifty day moving average is $457.54 and its 200-day moving average is $472.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued 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. The company had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. Ameriprise Financial’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.50 earnings per share. Sell-side analysts predict that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. Ameriprise Financial’s dividend payout ratio is currently 16.91%.

Insiders Place Their Bets

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

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.