Ameriprise Financial, Inc. (NYSE:AMP) Stock Holdings Boosted by AIA Group Ltd

AIA Group Ltd raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 256.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,434 shares of the financial services provider’s stock after purchasing an additional 7,508 shares during the quarter. AIA Group Ltd’s holdings in Ameriprise Financial were worth $3,963,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venture Visionary Partners LLC boosted its stake in Ameriprise Financial by 2.9% during the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after purchasing an additional 416 shares in the last quarter. 17 Capital Partners LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at $2,078,000. Cerity Partners LLC lifted its position in shares of Ameriprise Financial by 280.6% during the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after acquiring an additional 22,487 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $1,150,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of Ameriprise Financial by 75.4% during the 4th quarter. Harbor Investment Advisory LLC now owns 335 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 144 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $0.30 during trading on Thursday, reaching $412.07. The stock had a trading volume of 189,239 shares, compared to its average volume of 482,194. Ameriprise Financial, Inc. has a 52 week low of $279.85 and a 52 week high of $440.67. The business’s 50-day moving average price is $416.13 and its 200 day moving average price is $376.75. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $41.29 billion, a PE ratio of 17.37, a P/E/G ratio of 0.68 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.94 earnings per share. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio is currently 22.78%.

Insider Activity at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of Ameriprise Financial stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock valued at $35,560,647 over the last quarter. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMP shares. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Raymond James began coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. The Goldman Sachs Group increased their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Piper Sandler increased their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. Finally, Evercore ISI increased their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $441.00.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.