Smith Group Asset Management LLC Acquires New Position in Ameriprise Financial, Inc. $AMP

Smith Group Asset Management LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 1,050 shares of the financial services provider’s stock, valued at approximately $467,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Ameriprise Financial by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after purchasing an additional 10,782 shares in the last quarter. KBC Group NV grew its holdings in Ameriprise Financial by 12.2% during the 4th quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock valued at $73,848,000 after buying an additional 16,433 shares in the last quarter. National Pension Service grew its holdings 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 valued at $81,172,000 after buying an additional 12,563 shares in the last quarter. LSV Asset Management grew its holdings in Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after buying an additional 3,548 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $72,050,000. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In related news, insider William Jerryl Williams sold 8,210 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares of the company’s stock, valued at approximately $3,656,793. This trade represents a 54.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $558,996.00. Following the completion of the sale, the director 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 23,559 shares of company stock worth $12,182,382. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMP shares. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday. BMO Capital Markets raised their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $555.33.

More Ameriprise Financial News

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Zacks Research upgraded Ameriprise Financial from “Hold” to “Strong Buy,” citing improving earnings prospects. The upgrade could support investor demand for the shares. Zacks rating upgrade article
• Positive Sentiment: AMP was included on Zacks’ list of top-value stocks with a Rank #1 “Strong Buy” rating, reinforcing the view that its valuation and earnings outlook remain attractive. Zacks best value stocks article
• Positive Sentiment: A second Zacks analysis highlighted Ameriprise as a potential value investment, while a quarterly review pointed to asset growth, adviser productivity and strategic platform expansion as key business drivers. Ameriprise value stock analysis
• Neutral Sentiment: Ameriprise was recognized by J.D. Power for outstanding customer service for the fifth consecutive year. The award supports brand strength and client retention but is unlikely to materially change near-term financial forecasts. J.D. Power customer service recognition
• Negative Sentiment: Insider William Jerryl Williams sold 16,104 AMP shares across July 27–28 for approximately $8.67 million, reducing his holdings in two transactions by 42.04% and 54.77%, respectively. The sizable sales may pressure sentiment, particularly with the stock trading near its 52-week high. SEC insider transaction filing

Ameriprise Financial Trading Down 1.0%

Shares of Ameriprise Financial stock opened at $541.09 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.66. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $553.46. The firm has a market cap of $48.64 billion, a PE ratio of 13.05, a PEG ratio of 0.74 and a beta of 1.16. The company has a 50 day simple moving average of $480.85 and a two-hundred day simple moving average of $475.59.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share 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 firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the company posted $9.11 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that Ameriprise Financial, Inc. will post 45.84 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Monday, August 3rd will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $6.80 annualized dividend and a yield of 1.3%. Ameriprise Financial’s payout ratio is 16.40%.

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.