Lombard Odier Asset Management Switzerland SA Makes New $697,000 Investment in Ameriprise Financial, Inc. $AMP

Lombard Odier Asset Management Switzerland SA acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,569 shares of the financial services provider’s stock, valued at approximately $697,000.

A number of other institutional investors also recently modified their holdings of AMP. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ameriprise Financial by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock valued at $98,388,000 after purchasing an additional 10,782 shares during the last quarter. KBC Group NV increased its holdings in shares of Ameriprise Financial by 12.2% in the fourth quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock worth $73,848,000 after acquiring an additional 16,433 shares in the last quarter. National Pension Service increased its stake in Ameriprise Financial by 8.2% during the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock worth $81,172,000 after purchasing an additional 12,563 shares in the last quarter. LSV Asset Management increased its position in shares of Ameriprise Financial by 1.3% during the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after acquiring an additional 3,548 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in Ameriprise Financial during the 4th quarter worth about $72,050,000. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Stock Up 1.6%

Ameriprise Financial stock opened at $546.80 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.66. The company’s 50-day moving average is $479.17 and its 200-day moving average is $475.33. The firm has a market capitalization of $49.16 billion, a PE ratio of 13.19, a P/E/G ratio of 0.92 and a beta of 1.16. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $553.46.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the business posted $9.11 EPS. Ameriprise Financial’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 45.84 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 3rd will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMP shares. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Piper Sandler increased their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Morgan Stanley raised their price target on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research note on Friday, July 10th. Finally, Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $555.33.

Insider Activity at Ameriprise Financial

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

About Ameriprise Financial

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.