Signaturefd LLC Acquires 32 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Signaturefd LLC boosted its position in Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,270 shares of the financial services provider’s stock after purchasing an additional 32 shares during the quarter. Signaturefd LLC’s holdings in Ameriprise Financial were worth $862,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMP. Royal Bank of Canada lifted its position in Ameriprise Financial by 2.4% during the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock valued at $294,979,000 after purchasing an additional 20,970 shares during the period. Invesco Ltd. boosted its position in shares of Ameriprise Financial by 13.4% during the 3rd quarter. Invesco Ltd. now owns 672,823 shares of the financial services provider’s stock valued at $221,816,000 after acquiring an additional 79,611 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Ameriprise Financial by 12.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 620,048 shares of the financial services provider’s stock worth $204,417,000 after purchasing an additional 69,078 shares during the last quarter. Barclays PLC lifted its holdings in shares of Ameriprise Financial by 63.9% in the 3rd quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after acquiring an additional 136,621 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Ameriprise Financial by 6.0% during the 4th quarter. Federated Hermes Inc. now owns 304,953 shares of the financial services provider’s stock valued at $115,830,000 after acquiring an additional 17,307 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now directly owns 6,994 shares in the company, valued at $3,056,378. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at $4,731,807.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now directly owns 6,994 shares in the company, valued at $3,056,378. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,161 shares of company stock worth $35,560,647. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $421.33 on Tuesday. 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’s 50-day moving average is $417.37 and its two-hundred day moving average is $379.18. The firm has a market cap of $42.21 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 0.69 and a beta of 1.36. Ameriprise Financial, Inc. has a fifty-two week low of $279.85 and a fifty-two week high of $440.67.

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

Ameriprise Financial Increases Dividend

The business 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 $1.48 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.41%. Ameriprise Financial’s dividend payout ratio is 22.78%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. 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 note on Tuesday, April 9th. Raymond James started coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. Evercore ISI raised their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group boosted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Piper Sandler boosted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given 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.