BTC Capital Management Inc. Buys 1,458 Shares of Ameriprise Financial, Inc. $AMP

BTC Capital Management Inc. lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,017 shares of the financial services provider’s stock after purchasing an additional 1,458 shares during the period. BTC Capital Management Inc.’s holdings in Ameriprise Financial were worth $6,674,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in Ameriprise Financial in the fourth quarter worth about $742,438,000. AQR Capital Management LLC boosted its position in Ameriprise Financial by 84.2% during the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock valued at $532,455,000 after acquiring an additional 496,319 shares in the last quarter. M&T Bank Corp boosted its position in Ameriprise Financial by 1,440.2% during the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock valued at $228,572,000 after acquiring an additional 435,885 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Ameriprise Financial by 85.5% during the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock worth $406,216,000 after acquiring an additional 381,754 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after acquiring an additional 275,659 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In related news, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This represents a 50.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $460.73 on Thursday. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $550.18. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $41.42 billion, a P/E ratio of 11.46, a PEG ratio of 0.98 and a beta of 1.16. The stock’s 50 day moving average is $461.04 and its 200 day moving average is $473.38.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the business earned $9.50 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 42.69 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BMO Capital Markets raised their target price on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Piper Sandler increased their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Morgan Stanley raised their price objective on 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 started coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. Finally, Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $543.22.

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.