Ameriprise Financial, Inc. $AMP Shares Purchased by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 40.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,287 shares of the financial services provider’s stock after buying an additional 10,152 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Ameriprise Financial were worth $17,335,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Winnow Wealth LLC purchased a new stake in shares of Ameriprise Financial during the 2nd quarter worth approximately $32,000. Heartwood Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 3rd quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the 3rd quarter valued at $32,000. WFA of San Diego LLC purchased a new stake in Ameriprise Financial during the 2nd quarter worth $36,000. Finally, Salomon & Ludwin LLC grew its position in shares of Ameriprise Financial by 76.8% during the third quarter. Salomon & Ludwin LLC now owns 99 shares of the financial services provider’s stock worth $49,000 after buying an additional 43 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,658 shares of company stock valued at $8,998,675. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $433.90 on Friday. The company has a market capitalization of $39.56 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.01 and a beta of 1.27. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average of $486.03 and a two-hundred day moving average of $482.92. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.54 EPS. As a group, analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is presently 17.60%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. BMO Capital Markets reiterated a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Jefferies Financial Group boosted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $555.67.

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.