National Pension Service Raises Position in Ameriprise Financial, Inc. (NYSE:AMP)

National Pension Service raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 47.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 225,410 shares of the financial services provider’s stock after buying an additional 72,817 shares during the period. National Pension Service owned approximately 0.23% of Ameriprise Financial worth $120,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advisor OS LLC purchased a new position in Ameriprise Financial in the 4th quarter valued at approximately $535,000. Cavalier Investments LLC boosted its position in Ameriprise Financial by 3.7% in the 4th quarter. Cavalier Investments LLC now owns 2,713 shares of the financial services provider’s stock valued at $1,444,000 after buying an additional 96 shares during the period. MorganRosel Wealth Management LLC boosted its position in Ameriprise Financial by 4.5% in the 4th quarter. MorganRosel Wealth Management LLC now owns 1,955 shares of the financial services provider’s stock valued at $1,041,000 after buying an additional 84 shares during the period. Los Angeles Capital Management LLC boosted its position in Ameriprise Financial by 24.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 40,055 shares of the financial services provider’s stock valued at $21,326,000 after buying an additional 7,816 shares during the period. Finally, Todd Asset Management LLC boosted its position in Ameriprise Financial by 1.6% in the 4th quarter. Todd Asset Management LLC now owns 100,786 shares of the financial services provider’s stock valued at $53,661,000 after buying an additional 1,544 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $525.33 on Thursday. The company’s fifty day moving average price is $539.74 and its 200 day moving average price is $513.10. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $50.49 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.15 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Monday, February 10th. This represents a $5.92 annualized dividend and a yield of 1.13%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMP shares. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Finally, Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. 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, the company currently has an average rating of “Hold” and a consensus price target of $510.44.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of Ameriprise Financial stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares in the company, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction 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 transaction, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock worth $6,263,989 in the last ninety days. 0.96% of the stock is owned by corporate insiders.

Ameriprise Financial Profile

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.