Ameriprise Financial, Inc. (NYSE:AMP) Shares Bought by MONECO Advisors LLC

MONECO Advisors LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 27.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 786 shares of the financial services provider’s stock after acquiring an additional 171 shares during the period. MONECO Advisors LLC’s holdings in Ameriprise Financial were worth $419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Ameriprise Financial by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after buying an additional 31,158 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Ameriprise Financial by 429.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after buying an additional 338,298 shares during the last quarter. Maj Invest Holding A S raised its position in shares of Ameriprise Financial by 67.5% in the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock valued at $187,466,000 after buying an additional 141,927 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its position in shares of Ameriprise Financial by 41.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 256,309 shares of the financial services provider’s stock valued at $136,467,000 after buying an additional 74,705 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of analyst reports. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler boosted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $510.44.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $530.88 on Tuesday. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The firm has a 50 day moving average price of $540.11 and a 200 day moving average price of $512.19. The company has a market cap of $51.50 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.17 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.12%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last ninety days. 0.73% of the stock is owned by company insiders.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.