Ameriprise Financial, Inc. $AMP Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 22.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,959 shares of the financial services provider’s stock after buying an additional 1,475 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Ameriprise Financial were worth $4,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after buying an additional 50 shares during the last quarter. Empowered Funds LLC lifted its holdings in Ameriprise Financial by 11.8% in the first quarter. Empowered Funds LLC now owns 6,022 shares of the financial services provider’s stock valued at $2,915,000 after acquiring an additional 634 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Ameriprise Financial by 14.1% in the second quarter. Sivia Capital Partners LLC now owns 584 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 72 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in Ameriprise Financial in the second quarter worth approximately $313,000. Finally, Boston Partners grew its position in Ameriprise Financial by 3.1% in the second quarter. Boston Partners now owns 1,179,876 shares of the financial services provider’s stock worth $629,650,000 after acquiring an additional 35,500 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMP has been the topic of a number of research analyst reports. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Morgan Stanley upped their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $555.67.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction dated Monday, February 9th. The stock was 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 directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This trade represents a 55.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,658 shares of company stock worth $8,998,675 in the last three months. 0.57% of the stock is owned by company insiders.

Ameriprise Financial Stock Up 0.9%

Shares of NYSE AMP opened at $437.95 on Monday. 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 business’s 50 day moving average is $484.63 and its two-hundred day moving average is $482.00. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The firm has a market cap of $39.93 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.02 and a beta of 1.27.

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

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

Ameriprise Financial 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.