abrdn plc Has $34.57 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

abrdn plc lifted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,016 shares of the financial services provider’s stock after buying an additional 11,845 shares during the quarter. abrdn plc’s holdings in Ameriprise Financial were worth $34,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Ameriprise Financial in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $34,000. Carmel Capital Partners LLC acquired a new stake in shares of Ameriprise Financial in the third quarter worth $30,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $34,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter worth $39,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

NYSE AMP opened at $421.33 on Tuesday. The business has a 50 day simple moving average of $417.37 and a 200 day simple moving average of $379.18. Ameriprise Financial, Inc. has a 52-week low of $279.85 and a 52-week high of $440.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $42.21 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.69 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.14 by $0.25. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. Ameriprise Financial’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $7.25 EPS. Analysts anticipate that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.41%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.78%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the completion of the transaction, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the firm’s 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 completion of the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock valued at $35,560,647 in the last ninety days. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMP. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Raymond James began coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. Finally, Piper Sandler boosted 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $441.00.

Ameriprise Financial Profile

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.