Swiss Life Asset Management Ltd Buys 10,152 Shares of Ameriprise Financial, Inc. $AMP

Swiss Life Asset Management Ltd lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 40.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 35,287 shares of the financial services provider’s stock after buying an additional 10,152 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Ameriprise Financial were worth $17,335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its holdings 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 acquiring an additional 50 shares during the period. Empowered Funds LLC increased its position in shares of Ameriprise Financial by 11.8% during the 1st quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 634 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Ameriprise Financial by 14.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 72 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in Ameriprise Financial in the second quarter valued at about $313,000. Finally, Boston Partners boosted its position in Ameriprise Financial by 3.1% in the second quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock valued at $629,650,000 after buying an additional 35,500 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.3%

Shares of AMP stock opened at $433.90 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $550.18. The stock’s fifty day moving average price is $486.03 and its two-hundred day moving average price is $482.92. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $39.56 billion, a PE ratio of 11.93, a P/E/G ratio of 1.01 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. The business had revenue of $4.92 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 revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $9.54 EPS. Equities analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio is presently 17.60%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 5,000 shares of the 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 completion of the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. This represents 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 business’s stock in a transaction on 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 directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,658 shares of company stock worth $8,998,675. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research analyst reports. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $434.00 to $530.00 in a research note on Friday, January 30th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Finally, Jefferies Financial Group lifted their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.