Handelsbanken Fonder AB Buys 4,005 Shares of Ameriprise Financial, Inc. $AMP

Handelsbanken Fonder AB raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,025 shares of the financial services provider’s stock after purchasing an additional 4,005 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ameriprise Financial were worth $16,684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Csenge Advisory Group raised its position in Ameriprise Financial by 7.2% during the fourth quarter. Csenge Advisory Group now owns 520 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 35 shares in the last quarter. Maj Invest Holding A S grew its position in shares of Ameriprise Financial by 0.8% in the 4th quarter. Maj Invest Holding A S now owns 299,416 shares of the financial services provider’s stock valued at $146,814,000 after acquiring an additional 2,389 shares during the period. ProShare Advisors LLC grew its position in shares of Ameriprise Financial by 2.7% in the 4th quarter. ProShare Advisors LLC now owns 22,386 shares of the financial services provider’s stock valued at $10,977,000 after acquiring an additional 586 shares during the period. Gabelli Funds LLC grew its position in shares of Ameriprise Financial by 24.2% in the 4th quarter. Gabelli Funds LLC now owns 5,242 shares of the financial services provider’s stock valued at $2,570,000 after acquiring an additional 1,020 shares during the period. Finally, Passumpsic Savings Bank bought a new position in shares of Ameriprise Financial in the 4th quarter valued at about $221,000. 83.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total value of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at $2,934,729. This trade represents a 16.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Ameriprise Financial Stock Performance

AMP opened at $457.39 on Thursday. The business has a fifty day simple moving average of $454.40 and a 200 day simple moving average of $473.43. The company has a market capitalization of $41.12 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. 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 (NYSE:AMP) last released 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 business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $9.50 EPS. Research analysts expect that Ameriprise Financial, Inc. will post 42.63 EPS for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be 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 is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is presently 16.91%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a research report on Friday, April 10th. They issued a “hold” rating for the company. Piper Sandler lifted their target price on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets lifted their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average 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.