Ameriprise Financial, Inc. $AMP Shares Bought by Zhang Financial LLC

Zhang Financial LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 22.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,743 shares of the financial services provider’s stock after acquiring an additional 1,235 shares during the quarter. Zhang Financial LLC’s holdings in Ameriprise Financial were worth $2,996,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $742,438,000. AQR Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 84.2% during the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after purchasing an additional 496,319 shares during the period. M&T Bank Corp grew its position in Ameriprise Financial by 1,440.2% in the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock valued at $228,572,000 after buying an additional 435,885 shares during the last quarter. First Trust Advisors LP grew its position in Ameriprise Financial by 85.5% in the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after buying an additional 381,754 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after buying an additional 275,659 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. BMO Capital Markets lifted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Piper Sandler upped their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Jefferies Financial Group upped their price target on Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $553.67.

Ameriprise Financial Stock Performance

NYSE AMP opened at $527.91 on Friday. The company has a market capitalization of $47.46 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.95 and a beta of 1.16. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $470.45 and its 200 day moving average price is $473.87.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $1.05. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $9.50 earnings per share. On average, research analysts predict that Ameriprise Financial, Inc. will post 43.74 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 paid a $1.70 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Insider Buying and Selling

In other news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was 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. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Company 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.