2,551 Shares in Ameriprise Financial, Inc. $AMP Acquired by Cambient Family Office LLC

Cambient Family Office LLC acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,551 shares of the financial services provider’s stock, valued at approximately $1,251,000.

Several other institutional investors and hedge funds have also bought and sold shares of AMP. Norges Bank purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $742,438,000. AQR Capital Management LLC increased its holdings in Ameriprise Financial by 84.2% in the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after acquiring an additional 496,319 shares during the last quarter. M&T Bank Corp increased its holdings in Ameriprise Financial by 1,440.2% in the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after acquiring an additional 435,885 shares during the last quarter. First Trust Advisors LP raised its stake in Ameriprise Financial by 85.5% in the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock valued at $406,216,000 after acquiring an additional 381,754 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock valued at $231,805,000 after acquiring an additional 275,659 shares during the period. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AMP. Piper Sandler upped their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. BMO Capital Markets boosted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods initiated coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating for the company. Finally, Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $543.22.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Down 0.8%

Ameriprise Financial stock opened at $467.97 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The stock has a market cap of $42.07 billion, a P/E ratio of 11.64, a PEG ratio of 1.00 and a beta of 1.16. The firm’s fifty day moving average price is $459.83 and its 200-day moving average price is $473.31.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the company earned $9.50 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Ameriprise Financial, Inc. will post 42.63 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.5%. Ameriprise Financial’s dividend payout ratio is 16.91%.

About Ameriprise Financial

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.