Legal & General Group Plc Has $292.81 Million Position in Ameriprise Financial, Inc. $AMP

Legal & General Group Plc cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 597,162 shares of the financial services provider’s stock after selling 37,251 shares during the quarter. Legal & General Group Plc’s holdings in Ameriprise Financial were worth $292,812,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Glenview Trust Co increased its holdings in shares of Ameriprise Financial by 0.5% during the 4th quarter. Glenview Trust Co now owns 15,224 shares of the financial services provider’s stock worth $7,465,000 after acquiring an additional 74 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Ameriprise Financial by 26.8% in the 4th quarter. Hantz Financial Services Inc. now owns 180 shares of the financial services provider’s stock valued at $88,000 after buying an additional 38 shares in the last quarter. Swedbank AB grew its holdings in Ameriprise Financial by 0.3% in the 4th quarter. Swedbank AB now owns 256,865 shares of the financial services provider’s stock valued at $125,951,000 after buying an additional 719 shares in the last quarter. Catalyst Funds Management Pty Ltd grew its holdings in Ameriprise Financial by 84.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 920 shares of the financial services provider’s stock valued at $451,000 after buying an additional 420 shares in the last quarter. Finally, Guinness Asset Management LTD grew its holdings in Ameriprise Financial by 28.0% in the 4th quarter. Guinness Asset Management LTD now owns 2,023 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 443 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

AMP opened at $455.91 on Wednesday. The firm has a market cap of $40.99 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 1.07 and a beta of 1.20. Ameriprise Financial, Inc. has a 52-week low of $422.37 and a 52-week high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The business’s fifty day moving average is $454.90 and its 200-day moving average is $473.40.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $9.50 EPS. Sell-side analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is currently 16.91%.

Insider Buying and Selling at Ameriprise Financial

In other 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 transaction of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the stock in a transaction on Friday, May 8th. The stock was 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 in the company, valued at approximately $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of research reports. Morgan Stanley upped their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Piper Sandler upped their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. BMO Capital Markets upped 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. Finally, Royal Bank Of Canada reaffirmed 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 assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $543.22.

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.