Strategy Asset Managers LLC Purchases Shares of 1,090 Ameriprise Financial, Inc. (NYSE:AMP)

Strategy Asset Managers LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMPGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,090 shares of the financial services provider’s stock, valued at approximately $327,000.

Several other hedge funds have also recently bought and sold shares of AMP. Norges Bank acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $337,466,000. Marshall Wace LLP lifted its holdings in shares of Ameriprise Financial by 917.0% during the fourth quarter. Marshall Wace LLP now owns 679,926 shares of the financial services provider’s stock worth $205,102,000 after purchasing an additional 613,070 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Ameriprise Financial by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 2,331,235 shares of the financial services provider’s stock worth $701,689,000 after purchasing an additional 183,996 shares during the period. Balyasny Asset Management LLC lifted its holdings in shares of Ameriprise Financial by 48.0% during the third quarter. Balyasny Asset Management LLC now owns 381,984 shares of the financial services provider’s stock worth $100,890,000 after purchasing an additional 123,846 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Ameriprise Financial by 319.8% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 90,020 shares of the financial services provider’s stock worth $27,155,000 after purchasing an additional 68,579 shares during the period. 82.69% of the stock is owned by institutional investors and hedge funds.

Shares of AMP stock opened at $241.11 on Thursday. Ameriprise Financial, Inc. has a fifty-two week low of $233.16 and a fifty-two week high of $332.37. The stock has a market cap of $26.50 billion, a P/E ratio of 9.26 and a beta of 1.49. The business has a fifty day simple moving average of $266.31 and a 200-day simple moving average of $288.98. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMPGet Rating) last announced its quarterly earnings results on Monday, April 25th. The financial services provider reported $5.98 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.05. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Ameriprise Financial had a return on equity of 50.02% and a net margin of 22.45%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $5.43 earnings per share. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 25.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Monday, May 9th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, May 6th. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.13. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.20%.

In other Ameriprise Financial news, insider Gumer Alvero sold 2,044 shares of the firm’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $314.30, for a total value of $642,429.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James M. Cracchiolo sold 56,622 shares of the firm’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $314.16, for a total value of $17,788,367.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,377 shares of company stock valued at $21,148,716. 1.00% of the stock is currently owned by company insiders.

Several equities research analysts recently weighed in on AMP shares. Morgan Stanley decreased their price target on Ameriprise Financial from $335.00 to $330.00 and set an “equal weight” rating for the company in a report on Tuesday, April 26th. William Blair reissued an “outperform” rating on shares of Ameriprise Financial in a report on Tuesday, April 26th. Piper Sandler reduced their target price on Ameriprise Financial from $275.00 to $253.00 and set an “underweight” rating for the company in a report on Thursday, June 16th. StockNews.com initiated coverage on Ameriprise Financial in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, UBS Group reduced their target price on Ameriprise Financial from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, April 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Moderate Buy” and a consensus target price of $339.56.

About Ameriprise Financial (Get Rating)

Ameriprise Financial, Inc, through 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.

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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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