182,586 Shares in Ameriprise Financial, Inc. $AMP Bought by Prana Capital Management LP

Prana Capital Management LP purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 182,586 shares of the financial services provider’s stock, valued at approximately $89,695,000. Ameriprise Financial makes up 3.0% of Prana Capital Management LP’s portfolio, making the stock its 10th largest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after buying an additional 50 shares during the period. Empowered Funds LLC lifted its holdings in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 634 shares during the period. Sivia Capital Partners LLC lifted its holdings in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock worth $312,000 after buying an additional 72 shares during the period. Schnieders Capital Management LLC. bought a new stake in Ameriprise Financial during the 2nd quarter valued at approximately $313,000. Finally, Boston Partners boosted its position in Ameriprise Financial by 3.1% during the 2nd quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock valued at $629,650,000 after acquiring an additional 35,500 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial 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 transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the company’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 completion of the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,658 shares of company stock valued at $8,998,675 in the last quarter. 0.57% of the stock is owned by insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $437.99 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $39.94 billion, a P/E ratio of 12.05, a PEG ratio of 1.02 and a beta of 1.27. The stock’s 50 day moving average is $488.74 and its 200 day moving average is $483.62. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the business earned $9.54 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research 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 was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.60%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMP. Morgan Stanley raised their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $555.67.

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.