Flputnam Investment Management Co. Boosts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Flputnam Investment Management Co. boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,228 shares of the financial services provider’s stock after purchasing an additional 57 shares during the period. Flputnam Investment Management Co.’s holdings in Ameriprise Financial were worth $2,366,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Ameriprise Financial by 1.4% during the 3rd quarter. Signaturefd LLC now owns 2,238 shares of the financial services provider’s stock valued at $738,000 after purchasing an additional 31 shares during the period. Meeder Advisory Services Inc. increased its stake in Ameriprise Financial by 1.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock worth $1,128,000 after acquiring an additional 31 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in Ameriprise Financial by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 33 shares during the last quarter. CI Investments Inc. increased its stake in Ameriprise Financial by 2.6% in the 3rd quarter. CI Investments Inc. now owns 1,336 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 34 shares during the last quarter. Finally, Gateway Advisory LLC increased its stake in Ameriprise Financial by 1.7% in the 3rd quarter. Gateway Advisory LLC now owns 2,081 shares of the financial services provider’s stock worth $686,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at $3,056,378. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,161 shares of company stock valued at $35,560,647. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMP shares. Evercore ISI upped their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Royal Bank of Canada increased their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. 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. Piper Sandler increased their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Finally, The Goldman Sachs Group increased their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $441.00.

Ameriprise Financial Trading Down 0.1 %

AMP opened at $410.84 on Wednesday. Ameriprise Financial, Inc. has a 52 week low of $279.85 and a 52 week high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock has a market cap of $41.16 billion, a PE ratio of 17.33, a PEG ratio of 0.68 and a beta of 1.36. The business has a 50 day moving average of $415.72 and a 200-day moving average of $376.51.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data 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. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the company earned $6.94 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts predict that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

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

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.