Ameriprise Financial, Inc. $AMP Shares Acquired by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 81.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,360 shares of the financial services provider’s stock after acquiring an additional 1,960 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Ameriprise Financial were worth $2,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Foundations Investment Advisors LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $214,000. Connecticut Capital Management Group LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $213,000. Kingsview Wealth Management LLC boosted its position in shares of Ameriprise Financial by 573.5% during the fourth quarter. Kingsview Wealth Management LLC now owns 19,524 shares of the financial services provider’s stock worth $9,574,000 after buying an additional 16,625 shares during the period. Fidelis Capital Partners LLC boosted its position in shares of Ameriprise Financial by 8.3% during the fourth quarter. Fidelis Capital Partners LLC now owns 865 shares of the financial services provider’s stock worth $424,000 after buying an additional 66 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Ameriprise Financial by 112.5% during the fourth quarter. AlphaQuest LLC now owns 7,519 shares of the financial services provider’s stock worth $3,687,000 after buying an additional 3,981 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Performance

AMP opened at $445.94 on Friday. The company has a market capitalization of $40.09 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.04 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $550.18. The business has a 50 day moving average price of $455.29 and a two-hundred day moving average price of $472.95.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion for 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%.The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.50 earnings per share. Research analysts predict that Ameriprise Financial, Inc. will post 42.63 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were paid 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 yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 16.91%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director directly owned 6,300 shares of the company’s stock, valued at $2,934,729. The trade was a 16.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were 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 in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Piper Sandler boosted their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Morgan Stanley boosted their price objective on Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $543.22.

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.