Zhang Financial LLC Increases Position in Ameriprise Financial, Inc. (NYSE:AMP)

Zhang Financial LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,724 shares of the financial services provider’s stock after acquiring an additional 203 shares during the period. Zhang Financial LLC’s holdings in Ameriprise Financial were worth $655,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMP. Morgan Stanley boosted its holdings in Ameriprise Financial by 9.0% in the 4th quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock valued at $739,686,000 after purchasing an additional 195,537 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Ameriprise Financial by 29.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock valued at $555,952,000 after purchasing an additional 382,811 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Ameriprise Financial by 106,308.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock valued at $494,335,000 after purchasing an additional 1,586,121 shares during the last quarter. Norges Bank acquired a new position in Ameriprise Financial in the 4th quarter valued at about $389,527,000. Finally, Invesco Ltd. boosted its holdings in Ameriprise Financial by 33.5% in the 1st quarter. Invesco Ltd. now owns 1,078,807 shares of the financial services provider’s stock valued at $324,031,000 after purchasing an additional 270,755 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 shares were 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 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, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following 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. Insiders have sold 89,161 shares of company stock valued at $35,560,647 in the last ninety days. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMP. The Goldman Sachs Group boosted their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Evercore ISI upped their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. 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. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $441.00.

Ameriprise Financial Trading Up 1.1 %

NYSE AMP opened at $417.01 on Friday. 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 firm’s fifty day moving average price is $416.89 and its 200 day moving average price is $377.64. The company has a market capitalization of $41.78 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. Ameriprise Financial, Inc. has a 12 month low of $279.85 and a 12 month high of $440.67.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $6.94 EPS. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 34.43 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Friday, February 9th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, February 8th. Ameriprise Financial’s dividend payout ratio (DPR) is 22.78%.

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.