Banque Pictet & Cie SA Raises Holdings in Ameriprise Financial, Inc. $AMP

Banque Pictet & Cie SA grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,757 shares of the financial services provider’s stock after purchasing an additional 2,181 shares during the period. Banque Pictet & Cie SA’s holdings in Ameriprise Financial were worth $11,649,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AMP. Qube Research & Technologies Ltd lifted its holdings in shares of Ameriprise Financial by 140.5% during the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after purchasing an additional 275,659 shares in the last quarter. Man Group plc increased its holdings in Ameriprise Financial by 687.4% in the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock worth $135,989,000 after buying an additional 241,665 shares in the last quarter. Federated Hermes Inc. raised its position in Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after buying an additional 219,080 shares during the last quarter. Close Asset Management Ltd raised its position in Ameriprise Financial by 78.2% in the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock worth $227,652,000 after buying an additional 203,252 shares during the last quarter. Finally, Woodline Partners LP lifted its stake in Ameriprise Financial by 1,776.6% during the 3rd quarter. Woodline Partners LP now owns 193,285 shares of the financial services provider’s stock valued at $94,951,000 after acquiring an additional 182,985 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In other news, 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 transaction of $2,528,735.04. Following the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. This trade represents a 50.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target 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. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Morgan Stanley lifted their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Trading Down 1.7%

Shares of NYSE:AMP opened at $437.03 on Thursday. The stock has a market capitalization of $39.85 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s 50-day simple moving average is $474.82 and its two-hundred day simple moving average is $479.09. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.75 billion. During the same period in the previous year, the company posted $9.54 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors 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 1.5%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio 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.