Ameriprise Financial, Inc. $AMP Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 45.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,272 shares of the financial services provider’s stock after acquiring an additional 3,838 shares during the quarter. NEOS Investment Management LLC’s holdings in Ameriprise Financial were worth $6,029,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Linden Thomas Advisory Services LLC increased its stake in Ameriprise Financial by 0.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after buying an additional 20 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Ameriprise Financial by 2.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 21 shares during the last quarter. CreativeOne Wealth LLC increased its position in shares of Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 21 shares during the last quarter. Rexford Capital Inc. lifted its stake in shares of Ameriprise Financial by 20.6% in the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 21 shares in the last quarter. Finally, Mutual Advisors LLC boosted its holdings in Ameriprise Financial by 4.5% in the second quarter. Mutual Advisors LLC now owns 511 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $478.23 on Thursday. The company has a market cap of $44.43 billion, a PE ratio of 13.15, a P/E/G ratio of 1.09 and a beta of 1.26. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The firm has a 50-day simple moving average of $501.75 and a 200 day simple moving average of $490.16. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

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

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Monday, February 9th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, February 9th. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Insider Buying and Selling

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,158 shares of company stock valued at $9,675,085 over the last three months. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group upped their target price on Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $434.00 to $530.00 in a research report on Friday, January 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Company 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.