American Century Companies Inc. Purchases 3,549 Shares of Ameriprise Financial, Inc. $AMP

American Century Companies Inc. increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 261,205 shares of the financial services provider’s stock after purchasing an additional 3,549 shares during the period. American Century Companies Inc.’s holdings in Ameriprise Financial were worth $128,317,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. AE Wealth Management LLC boosted its holdings in shares of Ameriprise Financial by 104.2% during the 3rd quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock worth $1,946,000 after buying an additional 2,022 shares during the period. National Pension Service lifted its position in Ameriprise Financial by 4.6% during the third quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock worth $75,151,000 after acquiring an additional 6,724 shares during the last quarter. Optimize Financial Inc bought a new stake in shares of Ameriprise Financial during the third quarter worth approximately $453,000. Arjuna Capital grew its position in shares of Ameriprise Financial by 14.6% in the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock valued at $6,196,000 after purchasing an additional 1,610 shares during the last quarter. Finally, Candriam S.C.A. increased its stake in shares of Ameriprise Financial by 83.9% during the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock worth $31,361,000 after purchasing an additional 29,116 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $434.00 to $530.00 in a research note on Friday, January 30th. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Finally, Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Stock Down 3.7%

AMP stock opened at $468.96 on Monday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $550.18. The business has a 50-day simple moving average of $498.99 and a 200 day simple moving average of $488.28. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The company has a market cap of $42.76 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.10 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, beating the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $9.54 EPS. Sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is currently 17.60%.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares of the company’s stock, valued at approximately $3,052,529.98. This trade represents a 55.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock worth $8,998,675 over the last three months. Insiders own 0.57% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.