Ameriprise Financial, Inc. $AMP Shares Acquired by BTC Capital Management Inc.

BTC Capital Management Inc. boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 26.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,410 shares of the financial services provider’s stock after acquiring an additional 2,399 shares during the period. BTC Capital Management Inc.’s holdings in Ameriprise Financial were worth $5,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMP. AE Wealth Management LLC grew its holdings in shares of Ameriprise Financial by 104.2% during the third quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after buying an additional 2,022 shares during the last quarter. National Pension Service lifted its position in Ameriprise Financial by 4.6% during the 3rd quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock worth $75,151,000 after acquiring an additional 6,724 shares during the period. Optimize Financial Inc acquired a new position in Ameriprise Financial in the 3rd quarter valued at $453,000. Arjuna Capital raised its holdings in Ameriprise Financial by 14.6% during the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock worth $6,196,000 after purchasing an additional 1,610 shares in the last quarter. Finally, Candriam S.C.A. boosted its stake in shares of Ameriprise Financial by 83.9% in the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock valued at $31,361,000 after buying an additional 29,116 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMP has been the topic of several recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Finally, Morgan Stanley increased their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $555.67.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares in the company, valued at $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,158 shares of company stock valued at $9,675,085 in the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Up 1.3%

Shares of AMP opened at $473.38 on Friday. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $552.43. The firm has a market capitalization of $43.98 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. 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 stock’s fifty day simple moving average is $502.37 and its 200 day simple moving average is $491.20.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $9.54 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be issued a $1.60 dividend. The ex-dividend date is Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Ameriprise Financial 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.