First Trust Advisors LP Acquires 154,659 Shares of Ameriprise Financial, Inc. $AMP

First Trust Advisors LP raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 18.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 983,096 shares of the financial services provider’s stock after buying an additional 154,659 shares during the period. First Trust Advisors LP’s holdings in Ameriprise Financial were worth $436,888,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Ameriprise Financial during the 4th quarter worth about $742,438,000. AQR Capital Management LLC increased its position in shares of Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after acquiring an additional 496,319 shares during the last quarter. M&T Bank Corp raised its holdings in Ameriprise Financial by 1,440.2% during the fourth quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after acquiring an additional 435,885 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after acquiring an additional 275,659 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Ameriprise Financial during the fourth quarter valued at approximately $119,627,000. 83.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Jefferies Financial Group raised their price target on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. BMO Capital Markets increased their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Piper Sandler boosted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $553.67.

Insider Activity at Ameriprise Financial

In related news, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the sale, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.4%

Shares of NYSE:AMP opened at $528.56 on Wednesday. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The company has a market capitalization of $47.52 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16. The company has a 50-day simple moving average of $472.87 and a 200 day simple moving average of $474.19. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The business had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $9.50 earnings per share. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

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.